Reports – Africa Unconstrained

Africa Unconstrained:

Perspectives on the Continent’s New Era challenges current narratives on the economic future of African countries. We use in-depth analysis, webinars, interviews with global experts and original research to bring out the key economic challenges – and their solutions – for African countries and their partners.

So far, three Africa Unconstrained reports have been published.

1 – The African Debt Guide

The economic effects of COVID-19 have dominated the attention of all governments and international bodies throughout 2020. In relation to African countries, opinion shapers, experts, and journalists have focused on phrases such as debt crisis, debt diplomacy, debt forgiveness and debt relief. African leaders are calling for debt cancellation and debt moratoriums. Countries with alleged “debt problems” are being downgraded by ratings agencies.

Our analysis consists of 20 countries across Africa chosen for reasons associated with their debt position, including relatively high debt-to-GDP ratios and/or relative dependence on Chinese credit. Accounting for over 70% of total African debt stocks in 2018, these 20 countries are the most likely to face difficulties during the pandemic, making them fit for focus and better understanding.

2 – Flagship Report: Options for Reimagining Africa’s Debt System

African countries have borrowed billions of dollars internationally for a range of activities, including much-needed infrastructural development, in energy, transport, water and other sectors. Servicing this debt can be challenging, and can hinder African countries’ fiscal space for other expenditure, such as regular social spending on education and health. The COVID-19 pandemic has pushed some African countries into debt crises, with reduced tax revenues due to, for example, the collapse of commodity prices and tourist arrivals. Simultaneously, government expenditure has increased, with pro poor policies to protect livelihoods and businesses from the impacts of COVID-19, as well as the new costs of PPE, medication and vaccines.

But this is all happening amidst existing development challenges, with huge, tens of billions of dollars per year financing gaps for infrastructure and SDG achievement. What’s the background of debt in Africa? How has COVID-19 impacted the situation? What solutions and methods are available? This report aims to answer these questions, and then presents ten “options” for African and other stakeholders to pursue going forwards – three previously utilised, and seven new.

3 – Blueprint for an Africa-China Strategy

It’s time to ask and it’s time to get – is the key message of Development Reimagined’s new report, written with African leaders and policy makers in mind but also of huge interest to African NGOs and other governments worldwide. The report – boldly entitled “From China-Africa to Africa-China: A Blueprint for Africa’s China Strategy” – for the first time attempts to craft a comprehensive strategy for what African countries should – or at least could – be trying to get out of the China relationship. “Too often we think of African countries as passive recipients” says the report’s lead author, Patrick Anam, a trade lawyer. “Its time to change that, starting with China”. The CEO of Development Reimagined, Hannah Ryder, is keen to stress their aim is not to single out China, but rather to use the opportunity of how responsive China has been to African demands in the past. She thinks the blueprint can provide an example for African countries to use to demand the best from other foreign powers as well.