The three-day conference, which concludes today, seeks to formulate strategies to effectively manage debt across the continent and foster economic stability.  

The discussions have highlighted the growing financial burden faced by African nations, with nearly 80% of government expenditure in many countries being channelled towards interest payments and debt servicing.

Chief Economist at Don Consultancy Group, Chifi Mhago, underscored the urgency of the issue, stating, “This significantly reduces the funds available for essential public services and development initiatives. It is crucial that African nations adopt measures such as fiscal consolidation and debt restructuring to alleviate this strain.”  

--ChannelAfrica--