Africa: Africa Must Change Its Approach to Debt - Speaker

What the report says

Speaker of Parliament Alban Sumana Bagbin has urged African leaders and policymakers to rethink the continent’s approach to debt, arguing that Africa cannot keep borrowing in ways that leave future growth to cover past obligations. His remarks were reported by Ghanaian Times and distributed by AllAfrica.

Bagbin said a shift in mindset is needed if African countries are to make real progress, especially in dealing with heavy debt loads and building economies that can last. The article says he framed the issue as both an economic and strategic challenge, linking debt management to broader development outcomes across the continent.

According to the report, Bagbin made the comments in Accra at the 10th Annual Conference of the Global Initiative for Trade, Finance and Investment (GITFIC), where he serves as chairman. The setting suggests the remarks were aimed at an audience focused on trade, finance and investment policy, areas often tied to debt sustainability and growth.

The broader context is that many African governments continue to face pressure from borrowing costs, repayment demands and limited fiscal space. While the article does not provide specific figures or policy proposals, it highlights a call for more sustainable economic thinking at a time when debt remains a major concern for the region.