Lome: Policy makers, financial experts, heads of finance ministries, and African central banks are meeting from May 12 to 14 at an African Union (AU) conference in Lome, Togo, under the theme: “Africa’s Public Debt Management Agenda: Restoring and Safeguarding Debt Sustainability”. The event is being attended by representatives of regional economic communities, African multilateral financial institutions, and civil society organizations from the various member states of the African Union, currently chaired by the Angolan Head of State, Joo Louren§o.
According to Angola Press News Agency, the conference is organized by the African Union Commission’s Department of Economic Development, Tourism, Trade, Industry and Minerals. The event’s specific objective is to “facilitate the exchange of knowledge and share best practices in debt management in AU Member States,” as highlighted on the continental organization’s website.
The conference also aims to “formulate a position on the necessary reforms to the current global financial architecture to address the continent’s current debt crisis,” and “formulate and discuss innovative debt financing mechanisms to secure new financing while maintaining debt sustainability.”
Additionally, the event seeks to “explore and recommend sound debt management practices needed to restore and safeguard public debt sustainability in Africa.”