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African Nations are drowning in debt. A stop of us aid to many countries on the Continent could worsen the crisis.
Africa is a continent Rich in Natural Resources with a Young Population. African nations in theory have the potential to transform their economies. But many of them are facing mountains or debt.
Africa’s External Debt Climbed to more than $ 650bn last year.
More than half of African countries are either in debt distress or tearing on the edge. But credit restructuring is pay strike slow, and many governments end up spending more on service their debt than on healthcare or education.
The debt problem has plunged many nations into economic crisis with rising unemployment and poverty.
