Debt is an important source of financing for development, but it needs to be sustainable. African debt has been growing significantly over the past decade. The African Development Bank Group estimates that Africa’s total external debt, which stood at $1.12 trillion in 2022, had risen to $1.152 trillion by end-2023. With global interest rates at their highest level for 40 years and as multiple bond debt securities issued by African countries reach maturity, there is no shortage of challenges in 2024. Africa will pay out $163 billion just to service debts in 2024, up sharply from $61 billion in 2010. The growing burden of debt repayments has the potential to threaten achievement of the Sustainable Development Goals on the continent, particularly in health, education and infrastructure.

<p>Debt is an important source of financing for development, but it needs to be sustainable. African debt has been growing significantly over the past decade. The African Development Bank Group estimates that Africa’s total external debt, which stood at $1.12 trillion in 2022, had risen to $1.152 trillion by end-2023. With global interest rates at their highest level for 40 years and as multiple bond debt securities issued by African countries reach maturity, there is no shortage of challenges in 2024. Africa will pay out $163 billion just to service debts in 2024, up sharply from $61 billion in 2010. The growing burden of debt repayments has the potential to threaten achievement of the Sustainable Development Goals on the continent, particularly in health, education and infrastructure.</p>

POWER Talk is a mid-morning talk show programme, hosted by Lerato Mbele. The show delves deeper into the news of the day along with larger societal themes, inviting listeners to help unpack issues on the day’s current affairs agenda and topics close to their hearts. Mbele also interviews the biggest newsmakers and experts in South Africa, helping listeners makes sense of their world.

<p>POWER Talk is a mid-morning talk show programme, hosted by Lerato Mbele. The show delves deeper into the news of the day along with larger societal themes, inviting listeners to help unpack issues on the day’s current affairs agenda and topics close to their hearts. Mbele also interviews the biggest newsmakers and experts in South Africa, helping listeners makes sense of their world.</p>

Advertisement