As New Debt Crisis Looms, Africa Needs More Than World Is Offering

African countries face another debt crisis and will need more long-term help than the latest G20 debt plan offers them to ward off trouble ahead and keep much-needed investments coming in, according to policymakers, analysts and investors, Reuters reported. Around 40% of sub-Saharan African countries were in or at risk of debt distress even before this year, while Zambia became the continent’s first pandemic-era default last Friday. The United States, China and other G20 countries have offered the world’s poorest countries - many of which are in Africa - relief until at least mid-2021 and sketched out rules for rescheduling government debt to help fend off the risk of default in the wake of the coronavirus crisis. Read more

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