18:00 Uhr - 19:30 Uhr
The Initiative Southern Africa (INISA) and the Society for International Development (SIDBerlin) cordially invite you in cooperation with the Afrikahaus to the next Berliner Afrikakreis:
Financing Economic Development – Sub-Saharan Africa after the HIPC Initiative
Dr Collins Magalasi (Director, The African Forum and Network on Debt and Development, AFRODAD, Harare)
Prof Dr Robert Kappel (President Emeritus and Senior Research Fellow, German Institute of Global and Area Studies, GIGA, Hamburg)
Chair: Dr Konrad Melchers (Editor in Chief ret., Entwicklungspolitik)
The discussion will be in English. No registration necessary.
The Heavily Indebted Poor Countries (HIPC) Initiative started in 1996 and aimed at reducing an overwhelming debt burden of eventually 39 eligible developing countries (in 2012) to sustainable levels. 33 of these 39 countries are in Sub-Saharan Africa. Together with the Multilateral Debt Relief Initiative (MDRI), HIPC delivered about $100 billion of debt-relief to African economies since 2000.
At the same time, Africa continues to record relatively high-levels of economic growth. The continent seems to become increasingly interesting for Foreign Direct Investment (in particular in the agriculture and mining sectors). National resource mobilization via more effective tax regimes improves steadily in many countries and generates additional resources. Continuing international donor proliferation – despite a seemingly decreasing importance of aid (for some countries) – and the rise of South-South cooperation provide additional new opportunities for resources to finance economic development.
How is the financial situation in Sub-Saharan Africa today? Are debt levels sustainable? Can HIPC even be seen as the (one) big success story of international cooperation? How does the continent finance its economic growth and what can it do to improve its limited resource base in the face of massive developing challenges?
We are looking forward to an interesting debate!