The State of Africa’s Indebtedness
Into Africa
00:00
The Role of International Financial Institutions in Accountability
African countries have been hit by these exogenous shocks that they had no role in causing. The response of advanced countries to these shocks has further compounded the problem. Most African debt is denominated in US dollars, which means it's more expensive for them than other nations. And because of inflation in the United States, the Federal Reserve is now increasing interest rates. That helps fuel inflation. So there is a demand to say we want control over these institutions that determine our future.
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