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Warren Thompson Profile picture
Warren Thompson
@ThompsonWarren8
Financial journalist @finuncovered and co-author of the Battle of Bangui, the inside story of South Africa’s worst military scandal since Apartheid.
Jun 28, 2023 • 4 tweets • 2 min read
1/4 Why are so many African countries spending more on servicing debt than any other line item? For starters, rising indebtedness and the use of different types of external debt prevailed in the years before Covid, as we described here:
https://t.co/KlpXZuNo7Kfinanceuncovered.org/stories/what-i…
2/4 The pandemic simultaneously caused economies to "lockdown" while demanding huge public resources to respond to the medical and economic challenges caused by Covid. This led to even more indebtedness as seen in the rising debt-to-GDP ratios across the group of countries below: