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5min chapter
Is Africa’s debt cycle unbreakable?
Behind the Money
Introduction
Anu Arroye says Ghana is an example of a debt loop that many African countries are stuck in. The country borrowed money when it was cheap with low interest rates to build out their infrastructure. But now central banks around the world hiking rates up, that borrowed money has become a lot harder to pay back. With debt piled up, they're locked out of loan markets and unable to finish infrastructure projects.
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