Economist Podcasts Debtors’ prism: mounting crises of Africa’s loans
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May 31, 2023 
John McDermott, The Economist's chief Africa correspondent, shares his insights on the crippling debt crises affecting African nations, spotlighting Ghana's recent IMF loan approval and the urgent need for international cooperation on debt restructuring. Oliver Carroll, the Ukraine correspondent, weaves tales of unexpected love amidst the war, linking personal narratives with broader socio-economic themes. The discussion further explores the intriguing intersection between productivity, ADHD medications, and historical stimulants like sugar and coffee.
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Africa's Debt Crisis: A Complex Web
- Africa's debt crisis involves geopolitical rivalries and funding squeezes.
- This is further complicated by the impact of COVID and the war in Ukraine.
High Debt Burden in Africa
- Sub-Saharan Africa's public debt reached 56% of GDP in 2022.
- High interest rates and one-fifth of revenue spent on external debts exacerbate the issue.
Categorizing African Economies
- African countries fall into three categories: rich, stable/poorly managed, and Frontier Africa.
- Frontier Africa, including promising economies, faces a significant funding squeeze.