G20 Common Framework News Today

realistic or deluded? akinwumi adesina, welcome to hardtalk. its good to see you, stephen. its great to have you here. you need the world to believe in a bright african future. how is that going right now? its going pretty well. if you take a look at the african economic outlook we had from the african development bank, the gdp growth rate, gdp growth rates last year was 3.1%. this year, its 3.7%. and next year, its going to be 4.3%. now, why that is important is that that is well abov...

voice-over: this is bbc news. we will have the headlines for you at the top of the hour, which is straight after this programme. welcome to hardtalk. im stephen sackur. of all the worlds continents, africa is the one likely to see the greatest transformation in the course of this century. it will likely be home to almost 40% of all humanity by 2100. if, by then, africans have benefited from sustainable development, their global economic power will be enormous. if they havent, then they...

Lessons from the G20’s failed attempts at restructuring sovereign debt must be learned. Why not explore debt-for-development swaps, where loans are in effect turned into investments, and market-based alternatives such as packaging the debt into securities?

Ghana has reached a deal to restructure $5.4bn (R98.81bn) of loans with its official creditors, the finance ministry said on Friday, a milestone in the country's quest for debt relief as it charts its way out of the worst economic crisis in a generation.

It stood at 238 per cent of global GDP last year as public debt remained stubbornly high

In New York, a cohort of debt-relief activists and US state politicians are pushing for a more-permanent solution: a law that would overhaul the process of restructuring sovereign debt.

During the World Bank Group and IMF spring meetings, The Global Sovereign Debt Roundtable met and discussed debt sustainability and debt restructuring challenges and ways to address them.

Private foreign lenders might have to agree with less profitable terms compared to bilateral creditors if the countrys debt restructuring request is met, Finance Minister Ken Ofori-Atta says.