The African Development Bank (AfDB) says the total debt stock of Africa, both external and domestic currently stands at 500 billion dollars.
The AfDB President, Dr Akinwumi Adesina disclosed this during a public presentation of African Economic Outlook 2020 in Abidjan on Thursday.
He said Median Debt to Gross Domestic Product (GDP) had risen from 38 per cent in 2008 to 54 per cent in 2018.
Read Also: FG Directs Min. Of Education To Hold National Summit On Research(Opens in a new browser tab)
The AfDB boss quickly added that in spite of this development, there was no need for the panic button but though there was a need to tackle rising debt levels.
He said even with this, Africa as a continent did not have a systemic debt crisis.
“However, we must watch the quality of debt, the mix of debt in terms of concessional and non-concessional, the potential negative effects of rising domestic debt is crowding out private sector access to finance, the increasing level of non-Paris Club bilateral debt, and rising volumes of Euro bonds.
Read Also: Nigeria, Brazil Sign $1.1b Agriculture Project Deal(Opens in a new browser tab)
“While there is no cause for alarm, greater prudence is needed. We all must now collectively focus on sustainable debt management and greater reliance on domestic resource mobilisation to finance rising fiscal deficits.
“The bulk of the debt is actually spent on infrastructure, which remains a major challenge for many countries.
“Governments can improve the cost-effectiveness of their expenditures on infrastructure by sharply focusing on quality infrastructure, improved efficiency of public expenditure on infrastructure while promoting greater participation of the private sector in the provision of infrastructure.
“Physical infrastructure, while important, is not enough to drive much needed greater growth and productivity of African economies. African countries should accelerate investments as well in the development of human capital” he advised. (NAN)
273342 934565An attention-grabbing dialogue is worth comment. I believe that it is very best to write extra on this topic, it wont be a taboo topic however typically individuals are not sufficient to speak on such topics. To the next. Cheers 821167
746038 316002A persons Are normally Weight loss is definitely a practical and flexible an eating plan method manufactured for those that suffer that want to weight loss and therefore ultimately conserve a much much more culture. weight loss 588182
887174 193603Hi, Neat post. Theres a problem along along with your web site in internet explorer, could test this IE nonetheless is the marketplace leader and a great portion of folks will omit your exceptional writing because of this difficulty. 306628
Porno kategorisi vanessa tüm görüntüleri seks marcil video.
Vanessa Lane kanepe seks. cumshots, anal, bedava porno videolar, oral seks, açık, en iyi oral seks,
⚡ Etiketler: oral seks.
hormonal therapy alternatives
hormone-balancing supplements in europe
natural menopause supplements in europe without a prescription
organic supplements for menopause vaginal dryness
Spot on with this write-up, I absolutely feel this amazing site needs far more attention. I’ll probably be returning to read more, thanks for the advice!
Your means of explaining the whole thing in this paragraph is
in fact pleasant, every one be capable of easily be aware of it, Thanks a
lot.