How Africa states' indebtedness, collapsing currencies could be fixed
Nigerian currency notes. Some African countries with worsening debt situations have endured large exchange rate depreciations and struggled to stabilise the value of their domestic currencies. PHOTO | POOL
Highly indebted African countries are facing stark trade-offs between servicing expensive debt, supporting high and growing development needs, and stabilising domestic currencies.
Government debt has risen in at least 40 African countries over the past decade. As a result, some are experiencing a bad combination of high debt, elevated development spending needs amid budget shortfalls, and unfavourable exchange rate pressures.
