Sub-saharan Africa faces huge debt challenge: IMF

Paris, Oct 22 (AFP/APP):Sub-saharan Africa faces a huge challenge, made worse by the coronavirus pandemic, to find nearly $900 billion to repay massive debt and fund essential public spending, the International Monetary Fund warned Thursday. In a special report, the IMF said the region would require some $890 billion in external financing — equal to 55 percent of its total annual economic output — between now and 2023. While the G20 countries have offered African states debt relief, they should do more and be “more audacious” in their help, the IMF said. The IMF noted that the Sub-saharan region had … Continue reading Sub-saharan Africa faces huge debt challenge: IMF