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African Financing Stability Mechanism

Since 2010, Africa’s public debt has increased significantly. It is now  more non-concessional  and  short-term. Between  2010  and  2024,  Africa’s  public  debt surged by 170%, exceeding USD 1.8 trillion, partly due to external shocks such  as  the  global  financial  crisis,  Covid-19,  and  geopolitical  tensions.  While  many  African countries experienced good economic growth during the 2010-2019 period, that  growth  was  insufficient  considering  the  amount  of  debt  contracted,  thereby  threatening  Africa’s  economic  stability.  Declining  concessional  financing,  coupled  with  persistent  external  shocks  has  pushed  African  countries  towards  more  non-concessional debt, which now stands at 72% of the total debt.[…]