Debt-laden African countries charged 'extortionate' rates - UN chief says - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Heavily indebted African countries are getting a raw deal from the international financial system which charges them “extortionate” interest rates…

UN Secretary General Antonio Guterres meeting the Chairperson of the African Union Moussa Faki in Addis AbebaUN Secretary General Antonio Guterres meeting the Chairperson of the African Union Moussa Faki in Addis Abeba

“We need a new debt architecture that provides debt relief and restructuring to vulnerable countries,” he said. Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the International Monetary Fund said last year. All these factors have hindered their ability to invest in critical areas like health and education, Guterres said.

Armed conflict from the Sahel to the Horn of Africa and the impacts of droughts and floods have driven ever more Africans from their homes.

 

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That is the whole point of the loans, to extort, impoverish, kill and enslave. You still do not get it?

BRICS. Only the short sighted will always find problems, not solutions. Africans must get rid of their leaders urgently. They will tie the continent down in debt

Why go n borrow in the first place🤮🤮 Africa has many resources n very greed leaders🤮🤮🤮

,but yet they still continue to pray to the IMF, which is the west rape instrument for capitalism

It's because Africans don't want to unite, Africa needs one currency and we need to have our own monetary fund

It is to keep Africa in perpetual debt

EUROP CHEATING AFRICA DENY THAT 😭🤬😡😠🙄😤🧐😓

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