The cost of borrowing for many African governments is rapidly rising as the economic crisis on the continent worsens. While the double-digit yields on African bonds is great news for investors looking for new growth opportunities, it’s an absolute tragedy for governments who are forced to divert even more money away from public health programs.
All of this is compounded by the fact that without restructuring deals in place for multilateral, bilateral, and private creditor debt, African governments are doing their best to repay their existing loans even as the money runs increasingly low.
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