An African Perspective On The Establishment Of A Fair And Transparent International Sovereign Debt Restructuring Mechanism (SDRM)

Prior to 1996, much of Africa’s outstanding debt was owed to mul-lateral Instuons, (namely the IBRD/IDA,
the IMF and AfDB) and bi-lateral lenders of the Paris Club. As such, debt restructuring took place predominately
through these mullateral and bilateral channels.