Peace for development of the African continent
Prudent debt management is crucial for the development of the continent. Despite the previous IMF programmes as the Highly Indebted poor countries initiatives countries in Africa are facing another looming debt crisis. In 2008 countries like Sudan, South Sudan, Mozambique and Zimbabwe are in debt distress while 11 other countries are at high risk in terms of their debt sustainability. GLAFAD is of the view that sustainable borrowing is a pre-requisite for development and countries in Africa have to borrow sustainably to avoid being in debt distress. It will work towards ensuring that debt management is transparent and accountable to avoid unsustainable debt situation.