Leaders attending the 2026 G7 Summit in Évian-les-Bains, France, have pledged to strengthen efforts aimed at addressing rising debt burdens facing developing countries. In a joint declaration issued at the summit, the world's leading economies committed to supporting reforms that would improve access to financing and reduce vulnerabilities among low- and middle-income nations.
The declaration comes at a time when many countries, particularly in Africa, are struggling with growing debt repayment obligations and limited access to affordable credit. G7 leaders emphasized the need for international financial reforms, greater private-sector investment, and proactive debt restructuring to help prevent future financial crises.
Kenya's President William Ruto attended the summit as Africa's representative and is expected to push for reforms that would lower borrowing costs for African countries and unlock more investment opportunities across the continent.
The summit also focused on global economic stability, artificial intelligence, climate action, and ongoing geopolitical conflicts. Leaders agreed that while public development funding remains important, private capital will play a critical role in supporting future development efforts.
The declarations are expected to shape future discussions on global finance and development, particularly for countries seeking sustainable economic growth and debt relief.
The declaration comes at a time when many countries, particularly in Africa, are struggling with growing debt repayment obligations and limited access to affordable credit. G7 leaders emphasized the need for international financial reforms, greater private-sector investment, and proactive debt restructuring to help prevent future financial crises.
Kenya's President William Ruto attended the summit as Africa's representative and is expected to push for reforms that would lower borrowing costs for African countries and unlock more investment opportunities across the continent.
The summit also focused on global economic stability, artificial intelligence, climate action, and ongoing geopolitical conflicts. Leaders agreed that while public development funding remains important, private capital will play a critical role in supporting future development efforts.
The declarations are expected to shape future discussions on global finance and development, particularly for countries seeking sustainable economic growth and debt relief.
