“Number 8 may shock you!” The COVID-19 outbreak and Russia’s invasion of Ukraine had a negative economic impact, making it harder for many African countries to pay down their national debt. According to the United Kingdom’s Chatham House, more than 20 low-income African nations were at a high risk of defaulting. Bloomberg revealed that China accounts for 12% of Africa’s $696 billion (KSh 94 trillion) external debt. Due to the extent of Chinese lending, the World Bank noted that seven African nations were either in debt distress or at…
Read MoreList Of African Nations With Heaviest Chinese Debts
