Decade after debt relief, Africa’s rush to borrow stirs concern

Author: 

Tosin Sulaiman

Publication date: 

Tuesday, 18 March 2014

Type: 

  • Article

Producer: 

External to ACUI

Project theme: 

Nearly a decade after Nelson Mandela and anti-poverty activists Bono and Bob Geldof persuaded the rich world to forgive Africa’s crushing debts, many countries’ debt levels are creeping up again, which could undermine the region’s growth boom. As African states line up to join the growing club of dollar bond issuers, economists and analysts warn of a slide back into indebtedness that could undo recent economic gains and create a "Eurobond curse" to match the distorting "resource curse".