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Rising domestic debt in Africa likely to hurt local banks – IMF

The rising domestic debt in Sub-Saharan Africa risks hurting the stability of local banks, the International Monetary Fund (IMF) has said. Addressing journalists after the release of the regional outlook, Abebe Aemro Selassie, head of the IMF’s African department, expressed concern that around half of all public debt in Sub-Saharan African countries is now held by domestic institutions, a trend that has steadily increased over the years. [...]