Ramaphosa calls for multilateral cooperation to address economic instability, rising debt, inequality, and climate change.

The UNDP has highlighted a growing debt crisis impacting the world's poorest economies, urging a new multilateral debt relief deal to improve global financial stability. Interest payments are consuming large portions of government revenue,

The high debt saddling the world's poorest countries needs an urgent reset to avoid multiple crises, African leaders said Thursday as they launched an initiative for debt relief and fairer borrowing terms.

Growing external debt burdens are crippling the world's poorest countries, a group of former African leaders warned on Thursday as they pushed for a new programme of collective relief from private, bilateral and multilateral creditors.

G20 meets in Cape Town, but key members are absent as Africa pushes for debt relief amid rising costs and US disengagement.

Nigeria’s former vice president, Yemi Osinbajo, said debt restructuring and lowering the cost of capital were key to addressing Africa’s debt crisis.

The debt crisis facing the world's poorest economies is reaching new highs and debt servicing is eating up a growing share of revenues at the expense of spending on development, the United Nations Development Programme warned on Tuesday.

Ramaphosa says Gauteng must prove the decision to bring some of the G20 meetings to the province was not a mistake.

Eight former African Heads of State and Government have signed the Cape Town Declaration, calling for critical debt relief for highly indebted nations and advocating for lower borrowing costs for all developing countries.

Former African leaders are advocating for a collective debt relief program to alleviate the financial burdens on the world's poorest nations. The initiative aims to restructure debts, foster development,

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Speaking at a news conference on the margins of a G20 finance ministers meeting in Cape Town, ex-Nigerian president Olusegun Obasanjo, who is chairing the African Leaders Debt Relief Initiative ...