AFDB urges comprehensive plan for debt restructuring in Africa
Abuja, March 16, 2021 The African Development Bank (AfDB) has urged African governments to establish a financial stabilisation mechanism for a comprehensive plan for debt restructuring. President of the AfDB, Dr Akinwumi Adesina, said this at the launch of the bank’s 2021 edition of its annual African Economic Outlook, according to a statement from its office on Tuesday. Debt restructuring is a process that allows a private, public or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it ...
Source: naija247news.com