Africa Gradually Saddled With Massive Debt

20 August 2018

Windhoek — The United Nations Executive Secretary of the Economic Commission for Africa, Vera Songwe, has cautioned SADC leaders to be mindful about the increasing debt trap in financing infrastructure development, saying Africa is slowly creeping into a huge public debt.

Songwe, who spoke at the opening of the 38th SADC Summit of Heads of State and Government on Friday, said Africa is gradually creeping back into a huge debt situation, a phenomenon which previously undermined its development in the 1980s and 1990s.

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