Africa is a continent rich in natural resources with a young population. African nations in theory have the potential to transform their economies. But many of them are facing mountains of debt.
Africa’s external debt climbed to more than $650bn last year.
More than half of African countries are either in debt distress or teetering on the edge. But credit restructuring is painstakingly slow, and many governments end up spending more on servicing their debt than on healthcare or education.
The debt problem has plunged many nations into economic crisis with rising unemployment and poverty.
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#africa #economy #aljazeera #debt #unemployment #poverty #aljazeeraenglish #aljazeeranewslive
The problem is money laundering and corruption here in Ethiopia.
what happens if they don't pay
Depends on which nations wants to invest in African business community for recolonising social resources for the sake of advancing its global software power footprint.
The idea of exporting minerals are not genuine, I think Africa should ask those countries interested in Africa minerals to bring their industries and process these minerals in Africa, this will enable African countries to provide jobs to people and gain access to technology, buying African minerals cheap by the Western countries and turn it into finish goods for sell with high price doesn't help Africa, as it's now Africa solely depends on Western style of economic which is not created for Africa economic success , we really need technology in Africa to work on our minerals and stop exporting it raw to Western countries and others
this world need to pay back Africa for the slave trades an the wickedness they have done in Africa to black people.
africa government all are thief
What debt? Why pay thieves of what they steal from Africa ? ?
05:12 So Africa got $2.6 Trillion with a T and did nothing but pocket the Trillions and got bought weapons to keep the masses in check.
Why keep wasting money in a place that had all the funding in the Trillions not just Billions?
US is correct to pass new initiative on funding veterans in the US with the money saved from being wasted in USAID.
Africa will not be free til they kick out China n Russia if they think they helping them they better wake up
Here nakfa
South America and Asia have many corrupt politicians but Africans are like 5x corrupt.
In the Philippines there are 3 main islands. The least developed is called Mindanao. Like Africa, Mindanao island once the food basket of the country but because of religion terrorism, political clan wars and corruption. Political economists compared that island to Sub Saharan Africa.
No, it won't be paid back. It disappeared.
Never trust China, it is their tactics to put you in debt then if you can't pay up they will conquer your land as collateral.
These are actually NOT debts, they are manipulations of ignorant leaders who don't know how the game is played.
That’s what I noticed long ago Africans praising china and others like it that lends “(to help)”will drown u before u will be able to enjoy the economic boom and joy of prosperity… it’s sad but that’s true.only corrupt ones will make a fortune out of this… some already made mind blowing ridiculous profits and just keeps pushing like they are invisible 🫥
And a bad trading relatinships …a centre periphery relationship…
Read the book…How Europe underdeveloped Africa..by Walter Rodney….to know why Africa is so poor….
BRICS gonna sort all of these problems out 😬
Africa own no debt….
No, they are useless, cannot govern themselves, only thieving. Most owned by China now.
Maybe they can have a seminar or workshop somewhere nice
An impossible debt can be forgiven, in order for the debtor to get on with life, make a clean start. It was done many years ago with Brazil.
When is Africa going to stand on its own two feet?!!
Free Nigeria 🇳🇬 stop the genozide on christians
The joy of the socialist government, failure.
That's the system they built
The system is built for us to be in debt,
And secondly all this money didn't go to any public development but individuals account
We have everything that whole world needs but still we are the poor
All this debts going to bastard's individuals pocket on top positions
The USAID almost always goes to US "charities"
Will the America be able to pay their debt,will China be able to pay their debt, no one is paying anyone any debt,the world most powerful nation is in debt with a continuous fiscal deficit,leave Africans alone
NIGERIA IS NOT A NATION AND CAN NEVER BE A NATION
Nigeria is not a nation but an illusion scheme arranged by the British
Nigeria was arranged by the British to last for 100years and it had expired since 2014 so therefore it is not a nation and can never be a nation
Democratic Republic of the Yoruba is no longer part of the illusion scheme called nigeria
Democratic Republic of the Yoruba is no longer part of the illusion scheme called nigeria
Democratic Republic of the Yoruba is no longer part of the illusion scheme called nigeria