From Crisis To Reform: How The G20 Can Support The Reform Of The International Financial Architecture To Unlock Private Capital For Low-income, Resource-rich Economies In Africa

This policy brief proposes ways the G20 can help African LIRR countries become properly resourced to meet climate needs, capitalize on public-private partnerships (PPPs), and restructure the global financial architecture to work for Africa. In particular, it highlights the crucial role of the G20 in providing de-risking vehicles that spur private investment in Africa, especially through provision of technical assistance and expanding public information on mineral reserves. Furthermore, this brief recommends measures to improve the Common Framework for debt treatment and enhance coordination among creditors and climate financiers for efficient debt resolution, and hence free up resources for development imperatives (e.g., health and education). Finally, it underscores how the G20 can assist African LIRR countries to develop financial resilience via financial entrepreneurship and the promotion of financial market development and regional integration.