Africa is experiencing a significant sovereign debt crisis, with over half its countries in or near debt distress in 2025. Nations are spending more on debt servicing than on public goods such as health, law enforcement, housing and education. During its G20 presidency, South Africa prioritized addressing this issue and pushed for reforms to the global financial architecture and existing debt treatment mechanisms. Cathy Mohlahlana caught up with Prof Martin Guzman to unpack the progress and limitations faced by nations in the Global South given the global tensions. Cathy asked the former Minister of Economy in Argentina (2019 - 2022) and Professor at the School of International and Public Affairs of Columbia University on the history of debt relief and what approach should take when it comes to the debt nations take on…