Maroc - iafrica.com - A La Une - 24/Jan 04:49

Debt Servicing Costs Soar Amid Sub-Saharan Africa’s Financial Strain

Interest payments on long-term debt in sub-Saharan Africa surged nearly sevenfold between 2010 and 2023, reaching $26 billion, according to the World Bank. The sharp rise coincided with the region’s foreign borrowing doubling to $864 billion. Countries like Mozambique and Senegal were particularly affected by the debt pressure, which has left some nations allocating more…