Africa in the Throes of Worst Debt Crisis in 80 Years, Says Ex-Vice President, Osinbajo

Africa in the Throes of Worst Debt Crisis in 80 Years, Says Ex-Vice President, Osinbajo

Former Vice-President Yemi Osinbajo, yesterday, in Freetown, Sierra Leone, said Africa was in the throes of the worst debt crisis in 80 years, stressing that the economic distress was accompanied by an alarming surge in insecurity.

Africa’s debt crisis talks to center on need for global reform

The NewsAfrican policymakers will push for global finance reforms and new financing models to address the continent’s spiraling debt crisis during three days of crunch talks convened by the continent’s regional body.Africa will pay nearly $89 billion to service external debt this year, with the majority of its obligations owed to private creditors, according to the ONE Campaign, a Washington, DC-based advocacy group. The debt service bill amount…