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Vol 66 No 15

Published 25th July 2025


High hopes, little change

After yet another UN summit, African governments see sparse progress on debt relief or global financial reform

The familiar sound of empty promises rang around Seville at the close of the latest UN summit on international financial reforms. Few delegates from developing nations trusted commitments to tackle debt, boost transfers or rewire the global economic architecture. Pledges from rich-country delegates at the 30 June to 3 July conference included creating a ‘debt swaps for development hub’, converting a portion of African sovereign debt into investments, installing ‘debt pause’ clauses for when crises hit, and launching a Seville Forum on Debt for borrower collaboration.

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