itemprop=description content=Opinion - Rather than having too much debt, the challenge for countries in Africa may be that their debt is just too expensive. But there are remedies.
Rather than having too much debt, the challenge for countries in Africa may be that their debt is just too expensive. But there are remedies.
Taking on yet more debt to solve these challenges may seem a risky strategy, but new analysis casts a new light on the nature of the debt crisis. The ONE Campaign has calculated that African countries are, compared to rates that could be achieved with borrowing from the World Bank. This difference will result in an additional $56 billion in debt service paid on loans taken out over the last five years.
At the World Bank and IMF annual meetings, leaders should decide to implement this agenda through doing three things:
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