African countries plead for debt relief

Former African heads of state have launched a debt relief initiative — but they face an uphill battle amid global instability and financial turmoil

06 March 2025 – 05:00

by Crystal Orderson

Africa is grappling with an unprecedented debt crisis — its most severe in 80 years.

African nations owed about $685bn to external creditors in 2023, according to global group One Data Analysis. This year they will pay close to $89bn in external debt service alone, with 20 low-income countries at risk of debt distress. More than half of Africa’s 1.3-billion people live in countries that spend more on interest payments than on health, education and climate-related issues combined…

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