Debt Crisis

Africa is a continent endowed with abundant natural resources and a youthful demographic, presenting significant economic potential. However, many African nations are currently grappling with severe debt challenges, which have precipitated economic crisis characterized by rising unemployment and increasing poverty levels. The external debt of African countries surpassed $650 billion last year, with over half […]

Kenya Airways, the national airline of Kenya, is actively pursuing a long-term payment plan to manage its substantial debt to the Treasury. The airline is requesting an extension of 10 to 15 years to repay a total of 19.4 billion shillings (approximately $150.4 million) that was advanced by the Treasury. This move comes as the […]

Ethiopia is on the brink of finalizing a preliminary agreement with the International Monetary Fund (IMF) regarding its $3.4 billion loan program. This development comes as the country undertakes significant economic reforms, including the recent floating of its currency, the birr, which is expected to facilitate debt restructuring and attract further international support. Key Takeaways […]

Zimbabwe is taking significant steps to address its long-standing debt crisis by seeking $2.6 billion in bridge finance. This funding aims to help the nation clear arrears owed to international financial institutions, marking a crucial move in breaking a debt impasse that has persisted since 1999. Key Takeaways Zimbabwe proposes $2.6 billion in bridge finance […]