Le vice-président et économiste en chef de la Banque africaine de développement (BAD), Kevin Urama revealed that African nations are paying up to five times more interest when they borrow on international markets, compared to multilateral institutions like the ADB or the World Bank. To this end, the ADB is currently working on an African financial stability mechanism.

The ADB arrangement aims to refinance African debt on more favourable terms and reduce dependence on private creditors. According to economist Kevin Urama, “the debt structure in Africa has changed radically.” According to economist Kevin Urama, “the debt structure in Africa has changed radically.” In 2023, 49% of African debt was held by private creditors, a figure that is expected to rise to 54% in 2024. According to ADB data, African public debt has increased by 170%, and twenty countries are now in distress or at high risk of indebtedness, compared to thirteen ten years ago. From $17 billion in 2010, African nations are expected to allocate around $74 billion to service their debt in 2024

In addition, the ADB is campaigning for the creation of an African financial stability mechanism, which would make it possible to sustainably refinance the debts of African countries on more favorable terms. This project, which has been in the works for three years.