It hasnt been easy for African states to finance their developmental and environmental policy objectives over the past few years.
Recent events suggest that the situation may be improving. For the first time in two years, three African states have been able to access international financial markets, albeit at high interest rates. Kenya, for example, is now paying over 10% compared to about 7% in 2014.
Many African countries continue to face challenging sovereign debt situations.
Total external debts as a share of Africas export earnings increased from 74.5% in 2010 to 140% in 2022. In 2022, African governments had to allocate about 12% of their revenues to servicing their debt. Between 2019 and 2022, 25 African governments allocated more…
Read the full article at: https://theconversation.com/africas-debt-crisis-needs-a-bold-new-approach-expert-outlines-a-way-forward-223982