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To fix Africa’s debt crisis, reform credit ratings

Africa is in a debt crisis. On the continent, interest payments on debt have risen by 132% over the past decade. Thirty-two African countries now commit more to servicing debt than they do investing in healthcare, and 25 spend more on debt than education. In September, UN Secretary-General António Guterres warned about the potential of social unrest across Africa due to lack of access to effective debt relief. Past debt crises in Africa have been met with internationally co-ordinated responses, but this time, similar efforts have failed. […]