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Across Africa, climate shocks and debt distress fuel each other in a vicious cycle. With external debt more than tripling since 2008, rising costs and plunging currencies are squeezing public finances - leaving little room for vital climate resilience investments.
This Policy Brief by Alexander Dryden and Ulrich Volz unpacks these dynamics and questions whether current debt assessments are fit for purpose.
» Read more in the dossier "Debt Relief for Green and Inclusive Recovery"
Product details
Date of Publication
October 2025
Publisher
Heinrich-Böll-Stiftung and the Centre for Sustainable Finance at SOAS, University of London
Number of Pages
22
Licence
Language of publication
English
Table of contents
Introduction
The Debt Surge and Fiscal Squeeze
Africa’s Climate Financing Needs Are Not Nearly Met
The Limits of the Imf’s Debt Sustainability Analyses
The Drgr Proposal
Conclusion: Strategic Pathways for Addressing Africa’s Debt and Climate Challenges