Browsing: United Nations Economic Commission for Africa (ECA)

ECA meeting to resolve Africa’s commercial debt service obligation

The United Nations Economic Commission for Africa (ECA) convened a meeting to seek solutions that will ensure African economies enjoy continued market access and meet their private sector debt service obligations.

The United Nations Economic Commission for Africa (ECA) meeting was between the Africa Private Sector Working Group, African Finance Ministers and the African Union (AU) Special Envoy on COVID-19 which aimed at finding new financing solutions to provide additional resources for countries to reduce the effects of the COVID-19 pandemic. It also aimed at finding ways to improve the profile and terms of Africa’s commercial debt obligations so that Africa can better confront the health crisis.

The Africa Private Sector Working Group is a recently formed group which represents leading private creditors to African countries.

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ECA’s Executive Secretary, Ms. Vera Songwe stressed that “African countries are committed to …