Growing debt is a threat to long-term growth, social development, and fiscal stability – AU

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The African Union (AU) has warned that this mounting debt poses a threat to long-term growth, social development, and fiscal stability across the continent.

At the G20–Africa High-Level Dialogue on Debt Sustainability, Cost of Capital and Financing Reforms held in Addis Ababa, AU Commission Chairperson Mahamoud Ali Youssouf, represented by Commissioner for Economic, Trade, Tourism, Industry and Mining Francisca Tatchouop Belobe, said the continent’s debt-service payments exceeded $70 billion in 2024 alone, consuming a growing share of public revenues.

Source: newsthemegh.com