During the African Union 38 ^e sommet de l' ( ua), the countries approved the creation of a mechanism to support debt refinancing. This is the African Financial Stability Mechanism (AFSM), a mechanism designed to strengthen the financial stability of the continent and to support the refinancing of government debt

The implementation of could Mécanisme africain de stabilité financière save up to 20 billion dollars by 2035, in a context where debt service weighs heavily on public finances, according to the African Development Bank (BAD ), the initiator. According to the institution, the AFSM aims to meet the pressing liquidity needs of African countries to refinance their debt. The AfDB estimates that African debt refinancing needs will reach $10 billion per year over the next decade. Access to international financial markets remains a major challenge for countries on the continent, which face much higher borrowing costs than those in other regions, due to rising interest rates and risk premiums imposed by investors.

Selon un rapport des Nations unies, the external debt service of African countries reached a record level of 89.4 billion dollars in 2024, limiting their ability to finance the Sustainable Development Goals (SDGs). African public debt has nearly doubled since 2010, largely due to the increasing use of non-concessional and short-term borrowing, which has led to several defaults. According to Akinwumi Adesina, pr style="font-family: "Bookman Old Style”, serif">president of the ADB Group, “Africa a besoin d' un filet de sécurité régional pour fournir des liquidités de refinancement de la dette à grande échelle et à un coût abordable ”