Five East African Countries in U.S.$100 Billion Debt Trap
Five East African Community member countries, Kenya, Burundi, Rwanda, Uganda and Tanzania have together accumulated more than U.S.$100 billion domestic and foreign debt, stretching their repayment budgets to the limit. Kenya and Burundi has the highest loan distress profiles, with their debt to GDP ratio projected to exceed 60% this year.
The multi-lane, modern Nairobi-Thika super highway (file photo).
EAC Economies' Debt Scare
Citizen, 10 November 2019
Burundi has joined a group of nine African countries at a high risk of debt distress, with Kenya, Uganda and Tanzania among top 50 countries in the world that are highly indebted… Read more »
Economists say the country's public debt is projected to reach U.S.$18 billion or more than 50% of the country's GDP by the end of financial year 2022/23. This is attributed to ... Read more »
One intriguing clause in the contract reportedly says any disputes on the loan would only be resolved in Beijing through the China International Economic and Trade Arbitration ... Read more »
The new act wants to cap the public debt, and is apparently in line with regional trends. President Uhuru Kenyatta has signed three more trade agreements with China with a view to ... Read more »
East African economies have in the past 10 years borrowed over the U.S.$29.42 billion to grow their transport, communication, manufacturing and energy sectors. According to the ... Read more »
East African governments are being advised to set up independent debt management offices and increase their country's central bank capacity to improve economic management. Debt ... Read more »
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