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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

sovereign debt

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Africa

Kenya could run out of money to repay massive debts: how to avoid this

    By Odongo Kodongo, University of the Witwatersrand   Data from Kenya’s central bank show that public debt (total money owed) declined between December 2023 and June 2024. The drop in external debt – by 15.4 % – over this period does not mean that the country’s overall finances have improved. Rather, it is due to the gains in the value of the Kenyan shilling, thanks to pervasive state […]

todaySeptember 17, 2024 16

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Africa

African countries can’t resolve their debt crisis under a system rigged against them

      By Carlos Lopes, University of Cape Town   The debt situation in many African countries has escalated again to a critical juncture. Twenty are in, or at risk of, debt distress. Three pivotal elements significantly contribute to this. Firstly, the rules governing the international banking system favour developed countries and work against the interests of African countries. Secondly, multilateral financial institutions such as the International Monetary Fund […]

todayMay 6, 2024 12

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Africa

Africa’s debt crisis needs a bold new approach: expert outlines a way forward

  By Danny Bradlow, University of Pretoria   It hasn’t 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 […]

todayFebruary 22, 2024 9

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Africa

Zambia’s foreign debt tragedy – what needs to happen to resolve the crisis

By Danny Bradlow, University of Pretoria Three years after defaulting on its foreign debt, Zambia is still trying to reach agreement with all its creditors on how to manage this situation. This has left the southern African country in a state of development finance limbo. It is handicapped in raising the funds needed to generate jobs, build infrastructure, provide health, education and social services and deal with climate change. Its president, […]

todayDecember 1, 2023 7

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