According to the IMF, as of May 2022 “16 African countries were at high risk of debt distress, and 7 were already in debt distress.” The regional debt-to-GDP ratio is well above 66%, meaning that ever more scarce resources will be channeled to servicing debt rather than funding schools and hospitals, building infrastructure, or subsidizing much-needed i…
Why haven't markets disciplined public finance management practices in African states?
On the political of economy of debt and public finance
