Browsing: Debt Relief

There is a debt crisis in Africa as countries struggle to repay international loans.  According to the World Bank, nine…

In the last 20 years, Africa’s external debt has grown fivefold to about $700 billion. According to Chatham House, a policy centre in London, Chinese lenders account for about 12 per cent of that amount. As of November 2022, the International Monetary Fund (IMF) and the World Bank considered 22 low-income African countries to either be in debt distress or facing potential external debt distress.

The lender stated during the conference that the country’s economic objectives were still under threat from unsustainable debt.
The government announced last week that external debt grew to US$13.7 billion in September, up from roughly US$10.7 billion the previous year.
Zimbabwe’s debt accounts for more than half of the country’s GDP.

The International Monetary Fund (IMF) picked 28 countries that are to benefit from the $142.7 million debt relief program and…

Last year Africa spent more money servicing debts than on the health issues of its public.   According to World Bank, Africa…

Did you know, last year (2019) Africa spent more money servicing debts than the amount it spent on health issues of…

The novel Coronavirus (COVID-19) battle in Tanzania stands to get French government’s funding, as the East African nation awaits to…

Africa’s close development partner, World Bank—on Thursday took a serious initiative to restore its relations with Somalia, after being dull…