African countries are drowned in debts. The United States stops for several countries on the continent may exacerbate the crisis.
Africa is a continent rich in natural resources with population youth. African countries in theory have the ability to transform their economies. But many of them face the mountains of debts.
Africa’s external debt increased to more than $ 650 billion last year.
More than half of the African countries either in debt distress or swing on the edge. But the restructuring of the credit is slow, and many governments end with more spending on their debts than health care or education.
The debt problem in many countries has fallen into an economic crisis with high unemployment and poverty.
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