APO: Debt-distressed African countries again look to International Monetary Fund (IMF) (by Akani Chauke)
by Akani Chauke
By the International Monetary Fund (IMF’s) own admission, there are circumstances where African governments’ debt levels are so high they become unsustainable, such that the scheduled debt service exceeds the capacity of the member to service it.
This rings true for a number of countries in the Sub-Saharan African region, where the organisation, in its regional economic outlook for the year, warned debt servicing costs were becoming a burden, especially in oil ...
Read the rest of the story on Pulse.ng
Added November 12, 2018