Africa faces a mounting debt crisis
Rising rates are hurting some of its brightest economic stars
A year ago Ghana’s finance minister, Ken Ofori-Atta, eschewed talk that his country would need a bail-out from the IMF. Ghana had at that point been in and out of 16 IMF programmes since attaining independence in 1957. “We have forgotten how difficult and tenacious that master from Washington was,” he said.
This article appeared in the Middle East & Africa section of the print edition under the headline “Seeing red again”
From the May 20th 2023 edition
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