African nations are slipping into a new debt crisis
Sub-Saharan Africa is slipping into a new debt crisis, with 40 per cent of the region's countries now at high risk of debt distress — double the proportion of five years ago. With the number of countries already unable to service their debts doubling in the past year to eight, officials at the IMF are urging all African countries to raise taxes to provide more scope for paying interest, which has increased to levels last experienced at the start of the century.
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