Funding squeeze hitting Africa hard
Many African economies are suffering from a severe funding crisis – with international financial markets shut off and donor aid drying up – putting a halt to social and economic development. By Jason Mitchell.
IFR IMF/World Bank Report 2023
The past three years have been ones of overlapping crises. From Covid to war in Ukraine through geopolitical upheaval to natural disasters, the strain on government finances, particularly in developing nations, has been climbing higher. That these situations cannot be legislated for was brought closer to home in no small measure by September 8's earthquake in Morocco, with the World Bank-IMF annual meetings set to take place in Marrakech just a month later. Around the world, public debt as a ratio to GDP soared during Covid-19, with the IMF...Read more
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