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.“
Lead the Conversation on China
Subscribe Today to Get Full Access to The China-Global South Project
The China-Global South Daily Brief delivered to your inbox at 6AM Washington time
Full access to exclusive news and analysis from editors based in the Global South
Transcripts of CGSP’s twice-weekly podcasts