Faure Gnassingbé, President of Togo, was appointed on Wednesday, May 14, 2025, to represent Africa in discussions with international financial institutions regarding the restructuring of the continent’s debt. The announcement followed the first African Debt Conference held in Lomé.
In coordination with the African Union, Gnassingbé will lead advocacy efforts with international financial partners to review the conditions applied to African debt. His primary mission will be to initiate discussions with the International Monetary Fund (IMF) and the World Bank to reduce the cost of credit for African countries.
According to Togolese Minister of Economy and Finance, Georges Barcola, Gnassingbé will negotiate for “a healthy debt for the continent, that is, a debt that is not granted at prohibitive costs… We need resources, but concessional resources. To achieve this, it is necessary to review the international debt mechanism.”
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Gnassingbé’s appointment is due to his commitment and vision regarding African debt management. During the African Debt Conference, he called for “a collective African ambition, which prioritizes the sovereignty, solidarity, and stability of the continent.” He also stated, “It is up to us, Africans, to define together a shared doctrine on debt, which will allow us to speak with one voice in international forums. It is this common voice that can contribute to the reform of the global financial architecture.”
