In 1987, the Heads of State and Government of the OAU adopted the African Common Position on Africa’s External Debt Crisis, expressing grave concern that Africa’s external debt and excessive debt-service payment significantly hinder the comprehensive execution of Africa’s Priority Programme for Economic Recovery from 1986 to 1990. However, recent findings indicate that debt sustainability in Sub-Saharan Africa has re-emerged as a pressing issue for policymakers and development finance institutions, as the external debt burden in Sub-Saharan Africa has reached critical levels across numerous countries. This alarming situation raises serious concerns regarding debt sustainability, escalating interest costs, and diminishing fiscal space for essential development initiatives. The region is currently confronted with a new debt crisis, exacerbated by both external shocks and inherent structural vulnerabilities.
From 1987 to 2025, 38 years. For 38 years, Sub-Saharan African nations have grappled with the pursuit of economic independence and the long-awaited objective of collective self-reliance, underscoring the critical necessity for leaders to attentively embrace the aspirations of their citizens before it is irrevocably too late. The enduring dependence on external aid indicates that no single nation can genuinely prosper, as all have fallen short in elevating the lives of their people. This tragic disunity has severely constrained the region’s ability to realize its common visions of unity, culminating in persistent poverty, conflict, underdevelopment, and a continuous reliance on external assistance to confront formidable challenges. What value do established institutions hold if they are unable to guarantee security, peace, and self-sustainability to improve the quality of life for their citizens? Their failure to address debt issues and resolve conflicts that impact millions, as illustrated by the ongoing crises in Sudan and the recent catastrophic turmoil in Ethiopia, raises urgent questions about their effectiveness and relevance.