debt-servicing

The Economist Intelligence Unit has said that Ghana, Tunisia, Egypt, Congo-Brazzaville, Zambia, Zimbabwe and Mozambique will grapple with debt-servicing burdens that eat up a substantial share of their revenue in 2023 In its Updated 2023 Africa Outlook Report, the EIU said African governments have ramped up their borrowing—domestically and internationally—and public sector debt ratios (relative to GDP) have pushed back towards the highs last seen in the early 2000s just before the enormous debt restructuring of 2005, implemented under the umbrella of the heavily indebted poor countries (HIPC) initiative. “Ghana, Tunisia, Egypt, Congo-Brazzaville, Zambia, Zimbabwe and Mozambique have enormous amounts…