African countries, which are badly rated financially, are for the most part forced to take loans at high interest rates. A situation that leads some to lock themselves in the vicious circle of debt.
In a recent ranking of the ten most indebted countries in Africa, according to data from the World Bank, South Africa beats all “sad” records in this Top 10, with a debt of 80,520,000,000 USD or $ 1,613 per capita.
What is surprising in this ranking is the fact that the economically stable countries are the most indebted of the continent. It is therefore imperative for these countries to diversify their sources of financing, as recently advocated by UNCTAD.
Here is the ranking of the 10 most indebted countries of the continent
1- South Africa
With debt of more than $ 80,520,000,000, or $ 1,613 per capita, South Africa is Africa’s debt champion.
The Sudanese debt is over $ 37 980 000 000 or $ 946 per capita.
Egypt has a debt of more than USD 30 610 000 000 or $ 391 per capita
With a debt of more than $ 75 470 000 000 USD or $ 712 per capita, Morocco is the fourth African country in debt.
The Tunisian debt amounts to more than $ 18 760 000 000 or $ 1 779 per Tunisian.
Angolan debt amounts to more than $ 17,980,000,000, or $ 944 per Angolan.
7- Democratic Republic of the Congo
With a debt of over $ 13,500,000,000 or $ 197 per capita
8- Ivory Coast
Ivorian debt amounts to more than $ 11.6 billion, or 527 per capita.
Nigeria is in ninth place with a debt of more than US $ 11.020 million
With a debt of more than US $ 7,935,000,000, Kenya is the tenth most indebted African country.