The economic fundamentals in a growing number of Africa’s major economies are showing signs of rapid deterioration amid the ongoing economic crisis brought on by the COVID-19 pandemic. Seemingly every week there’s a new downgrade, analyst warning, or economic indicator that points to an increasingly dire situation for some of the continent’s largest and most important economies.
Last week, Kenya’s National Treasury and the parliamentary budget office issued fresh warnings about the country’s rapidly increasing debt load, and both sounded the alarm that the country now faces “a high risk of external debt distress.“
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Kenya’s presidential front-runner William Ruto made it clear that if he wins next month’s presidential election in Kenya he will publish the multi-billion dollar Standard Gauge Railway (SGR) loan contract with ...
South African Finance Minister Tito Mboweni issued a dire warning to the parliament on Wednesday about the country’s debt crisis. With South Africa’s debt-to-GDP levels breaking new records this year and forecast to grow ...
China’s Hunan province cemented its role as a hub for African agricultural trade via a recent matchmaking meeting to team up major Chinese fruit buyers with key African producers like South Africa and ...