Johannesburg: A highl evel panel of African economists and policy experts has urged the G20 to launch a new debt-refinancing initiative aimed at easing the heavy external debt burdens of low-income countries. The proposal, which calls for a G20-IMF collaborative vehicle, seeks to provide these nations with both breathing room and a pathway to sustainable growth.

The expert group, established by South Africa’s G20 presidency earlier this year, warned that many African governments are faced with crippling interest payments that divert funding from essential sectors like health, education, and infrastructure. With external debt servicing in Africa projected to reach $89 billion this year, the panel argues that existing debt-relief frameworks are insufficient.

In its action plan, the panel

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