- While bilateral debt represented 52 percent in 2000, this declined to 25 percent by 2021.
- Yearly bond issuances in Africa increased from an average of $10 billion (Sh1.4 trillion) annually in the early 2000s, to about $80 billion (Sh11.2 trillion) annually by 2016–2020.
- The share of China’s debt rose from just 1 percent of total debt in mid-2000s to 14 percent of total external debt by 2021
The African development bank has warned that the total external debt of Africa is expected to rise to $1.13 trillion (Sh159 trillion) this year from was $1.1 trillion (Sh154) in 2022.
The tightening of monetary policies in the US and Europe, will likely have a spillover effect into the African markets by impacting interest rates leading to rising costs of debt servicing.
African Development Bank Group, President, Akinwumi Adesina, said that with the tightening of monetary policies in the US and Europe, …
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