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Ramaphosa Backs G20 Plan for Africa's Debt Relief

11/20/2025

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Summary

Story summary

South African President Cyril Ramaphosa welcomed a G20 report proposing IMF gold sales and a review of lending practices to address Africa's debt crisis.
The report notes more than 3.4 billion people live in debt-prioritized countries.
It calls for a debt refinancing plan for low-income nations funded by IMF gold sales or SDRs.
The report also proposes a Borrowers' Club to strengthen debtor nations' negotiating power.

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Story summary

South African President Cyril Ramaphosa welcomed a G20 report proposing IMF gold sales and a review of lending practices to address Africa's debt crisis.
The report notes more than 3.4 billion people live in debt-prioritized countries.
It calls for a debt refinancing plan for low-income nations funded by IMF gold sales or SDRs.
The report also proposes a Borrowers' Club to strengthen debtor nations' negotiating power.