Bloomberg new economy gateway: ‘Easing Africa’s debt burden’

Debt is a mounting problem across the African continent. Zambia, Ghana and Mali all have defaulted since the beginning of the pandemic, and in 24 nations the situation is “severe,” according to the United Nations. China has emerged as a major creditor. Even for countries with healthier economies, rising interest rates and the strong dollar are straining finances or putting debt capital out of reach. Now that the G20’s temporary relief program has expired, the need for action and multilateral coordination is urgent.

Source : Bloomberg

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