Fresh calls for African countries to take ownership of debt

INTERGOVERNMENTAL bodies this week called on African nations to take ownership of their debt and collaboratively find a solution as countries sink deeper into debt distress.

Information unveiled at the ongoing African Development Bank (AfDB) annual meetings in Kenya showed that Africa was at a critical juncture where nations are faced with difficult trade-offs concerning debt.

This trade-off has led to 60% of African countries spending more on servicing their debt than on healthcare, according to data unveiled at the annual meetings.

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