The Economist

Africa faces a mounting debt crisis

African countries face a debt crisis as public debt to GDP ratio soars, leading to austerity, and China and private creditors play a pivotal role in restructuring debt. The impact on African economies and politics will be significant.

African countries are facing a mounting debt crisis with public debt to GDP ratio soaring to an average of 56% in sub-Saharan Africa in 2022.
African attitudes towards the rest of the world will be shaped by whether outsiders, especially the West and China, are seen to be helping or hindering progress.
China and private creditors have begun to play a pivotal role in restructuring the billions of dollars in debt owed by African countries.
Austerity will have a big impact on African economies and domestic politics.
Most 'frontier' countries are democracies, and the economic discontent has already led to changes in government in Zambia and Kenya.

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