Africa’s increased debt accumulation has pushed several countries into debt distress with fears that many governments would not be able to access the international capital markets for more funding, according to a new report by the African Development Bank (AfDB).
The African Economic Outlook report, 2021, titled From Debt Resolution to Growth: The Road Ahead for Africa shows that by December 2020, 14 of the 38 countries for which debt sustainability analyses are available were rated in high risk of debt distress while another six were already in debt distress.
