Africa panel proposes G20-backed debt refinancing fund for low-income countries

An expert panel in Johannesburg has proposed a new G20-led initiative to refinance — rather than reschedule — debt for the world’s poorest nations. The plan suggests using IMF Special Drawing Rights (SDRs) and gold to capitalise a refinancing facility, easing pressure on countries facing unsustainable repayment obligations. Supporters argue the mechanism would enhance financial resilience across the Global South, providing vulnerable economies with fiscal breathing space while reducing the risk of disorderly defaults.