African countries are experiencing severe debt troubles with several governments having to sacrifice social spending to pay back creditors.
In Ghana, the government was spending more of its budget on health and education at the start of the 2010s. But after the government borrowed money on the markets the interest payment burden began to grow. That’s the red line gradually rising, falling and then spiking.
DW talks to Nzioka Waita about Africa’s debt dilemma. He is Managing Director for Africa at the Tony Blair Institute which published a paper this year titled ‘A New debt Deal for Africa: Breaking the Vicious Cycle.’
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