Africa can only attract development finance with sustainable debts Seth Terkper [Video]

Seth Terkper, a former Minister of Finance, has urged African governments to strive to make their debts sustainable to attract development finance assistance.

“Africa must do something about its debt, otherwise, we might be shut out of development finance,” Mr Terkper who led Ghana’s 16th International Monetary Fund (IMF) loan-support programme, said.

Mr Terkper, also the Executive Director of Public Financial Management (PFM) Tax Africa Network – a consulting firm, was engaging journalists virtually on the back of the just ended International Monetary Fund/World Bank Group (WBG) annual meetings in Washington, US.

He explained that because many African countries have reached lower and middle-income status, they could no longer rely on grants and concessional financing for sustainable development and poverty alleviation.

As such, development finance would be supportive going forward, hence, the need for African governments to assiduously work towards resolving their debt burden.

In its April 2024 Regional Economic …