Public debt service is consuming increasingly large shares of government revenue across the region.
Total public debt service as a percentage of government revenues rose significantly between 2017 and 2023, from 29.7% to 42.7%.
The largest increases are seen in Eswatini, Kenya, Madagascar, Malawi, Namibia, Rwanda, Somalia, Uganda and Zambia.
In Angola, Kenya, Malawi,Rwanda, Uganda, and Zambia, debt service now exceeds 50% of government revenues.
Similarly, debt service represents an increasingly large share of public expenditure across the region.
Total debt service as a percentage of public expenditure amounted to an average of 21% in 2017, but had climbed to 30.8% by 2023.
