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Africa’s foreign Debt burden. Is this a modern-day slavery

Africa’s foreign Debt burden. Is this a modern-day slavery

Africa is burdened with an unmanageable debt, hampering economic growth. Concern on Africa’s debt stems from extremely high ratios; debt service to exports, debt to exports and debt to GDP. Total debt to export earnings having been rising more rapidly than those of other regions. Despite incurring the highest growth rates of borrowing, African economies have grown slower than in other developing countries.