ECONOMY

ALEX AWITI: Africa’s looming debt crisis demands immediate action

The number of African countries already unable to service their debts has doubled in the past year to eight

In Summary

• Sub-Saharan Africa’s public debt has climbed above 50 per cent of Gross Domestic Product in more than half the countries.

• Some countries will need help with debt stocks, beyond repayments.

The Covid-19 pandemic is exacerbating Africa’s economic turmoil. Experts now believe Africa’s debt could touch off a cascade of complex social, economic, political and even environmental ...

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