Sovereign debt remains a pressing development issue, particularly in light of the tightening global financial environment, post-pandemic recovery challenges and climate-linked fiscal vulnerabilities. This session will explore the legal dimensions of sovereign debt management and restructuring in Africa, focusing on practical strategies that governments and legal practitioners can adopt to navigate the evolving debt landscape.

Drawing on ALSF’s Sovereign Debt Management and Restructuring Guides, the session will bring together diverse experts—from government, international financial institutions, legal practitioners, financial advisers, and academia—to dissect best practices, lessons learned, and legal innovations for responsible borrowing and debt resolution.

It will address core questions such as: What role can legal practitioners play in ensuring sustainable sovereign borrowing? How can governments be empowered to negotiate fairer debt terms? What are the legal considerations for climate-related debt instruments and contingency clauses?

Speakers:

Anna Gelpern, Professor, Georgetown University Law Center

Qingxiang Li, Attorney, International Monetary Fund

Jacob Mkandawire, Director, Debt Management Program, Macroeconomic and Financial Management Institute of Eastern and Southern Africa

Baba Musa, Director General, West African Institute for Financial and Economic Management

Matthew Sandy, Director of Public Debt Management, Ministry of Finance, Republic of Liberia

Carina Sudgen, Lead Governance Officer, African Development Bank

Moderator:

Nicole Kearse, Principal Legal Counsel, Sovereign Finance Sector Lead, ALSF

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