Debt Distress Should Be Avoided At All Costs Adesina And Okonjo-iweala Have Issued A Warning To African Leaders

Dr. Ngozi Okonjo-Iweala, former Minister of Finance and Director-General of the World Trade Organization (WTO), President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, Governor of the Central Bank of Egypt (CBE), Tarek Amer, and other regional economic stakeholders expressed concern about rising national debts yesterday, warning that the majority of countries on the continent would face default. They voiced their concerns at the African Development Bank Group’s 2021 Annual Meetings, urging African political leaders to look for alternative sources of finance and increase debt management transparency. The majority of countries are battling with sustainability, according to the experts, […]