South Africa snubs rich international coalition

South Africa has rebuffed full membership in the Paris Club, a coalition of mostly rich-nation creditors, to instead focus on its involvement in a United Nations-backed coalition of borrower countries. This decision comes as the country had been a prospective member since 2022 and had actively participated in debt-restructuring cases, including as vice-chair of the Official Creditor Committee for Zambia. Despite this, South Africa remains committed to constructive engagement with the Paris Club and continues to participate in discussions on international debt issues.