debt crisis

Namibia calls for fairer global financing at G20 Summit

President Netumbo Nandi-Ndaitwah addressing the session on Inclusive and Sustainable Economic Growth at the G20 Summit (Photo by Namibian Presidency via X) Namibia has called on world leaders to overhaul the global financial architecture, arguing that developing nations continue to shoulder unfair borrowing costs that hinder growth and deepen inequality. Speaking at the G20 summit in South Africa, President Netumbo Nandi-Ndaitwah commended President Cyril Ramaphosa and the South African government […]

24 November, 2025

World

UNCTAD chief warns $31 trillion debt crippling developing nations

UN Trade and Development Summit 2025 official photo Addressing this year’s UN Trade and Development (UNCTAD) Summit, Secretary-General Rebeca Grynspan warned that developing countries are being held back by a $31 trillion debt burden. She highlighted that record debt repayments, particularly involving the United States, are slowing development progress in these nations. Grynspan urged global leaders to consider debt relief and sustainable financing solutions to help developing countries meet their […]

21 October, 2025

Business / Economics

South Africa faces R800 billion debt repayment challenge

South Africa’s Finance Minister Enoch Godongwana (Reuters/Shelley Christians) South Africa could face a financial challenge as debt servicing costs are projected to consume up to 30% of the country’s tax revenue by 2030, according to the International Monetary Fund (IMF). The IMF estimates that South Africa may need to spend as much as R800 billion on debt repayments within the next seven years, exposing a growing strain on the country's […]

19 May, 2025

South Africa

In S.A, DA Accuses SAPS of Misleading Parliament on Unpaid Debts

The DA says the South African Police Service may have misled Parliament’s portfolio committee on Police regarding debts owed to the Department of Public Works. Despite claims from national Police Commissioner Fannie Masemola that no arrears exist, it has been revealed that SAPS owes approximately two-billion-rand. The DA’s Dianne Kohler Barnard says police stations remain dilapidated and detective services are under-resourced:

15 February, 2025

Business / Economics

MPs Sound Alarm Over Exploitative Lending Practices

Lawmakers in the National Assembly debated financial reforms to curb rising debt levels in Namibia, especially among civil servants. Inna Hengari from PDM criticized microlenders such as Letshego for profiting N$199 million in six months while borrowers sink deeper into financial distress. Hertha Ekandjo reports for One Africa’s NewsOnOne.

14 February, 2025

Africa

Zambia begins debt restructuring process

Zambia’s international bondholders should quickly complete the restructuring of the notes after the government announced the start of the process, says International Monetary Fund Managing Director Kristalina Georgieva. Bloomberg Africa reports that the government of Africa’s first pandemic-era sovereign defaulter will meet eurobond investors on June 4th to ask them to approve exchanging what’s grown to almost $3.9 billion of debt for new instruments.

14 May, 2024