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- Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (1)
- Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (2)
- Dr Akinwumi Adesina (right) warns of the impact of non-transparent resource-backed loans on Africa's debt burden. Semafor Summit, Washington DC April 2024 (3)
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Africa's $824 billion debt burden and opaque resource-backed loans hinder its potential, African Development Bank President warns
The continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010
Africa's immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth, African Development Bank President Akinwumi Adesina (www.AfDB.org) said on Thursday. "I think it's time for us to have debt transparency accountability and make sure that this whole thing of these…