World Bank: Debt interest swallows health, education budgets in 80% of African countries

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World Bank: Debt interest swallows health, education budgets in 80% of African countries

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The World Bank says debt-interest costs exceed spending on health or education in nearly 80% of sub-Saharan African countries. Heavy debt servicing is constraining public budgets and limiting governments’ ability to fund essential services.

Interest payments on public debt exceed government spending on health and/or education in nearly four-fifths of sub-Saharan African countries, as high debt-servicing costs continue to constrain public finances across the region, according to the World Bank. The post World Bank: Debt interest swallows health, education budgets in 80% of African countries appeared first on Nairametrics.

World Politics Markets Health World Bank sub-Saharan Africa sovereign debt interest payments public spending health budgets education budgets

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