Of the $37.4 billion in foreign debt that Kenya owed at the end of 2022, at least $6.7 billion was owed to China, according to the I.M.F. Kenya also owed, at the end of 2022, $11.1 billion to the World Bank, $7.1 billion to bondholders, $3.8 billion to industrialized countries, $3.5 billion to the African Development Bank, $2.4 billion to the I.M.F. and $1.9 billion to international commercial banks.
https://www.nytimes.com/2024/06/26/business/kenya-tax-protests-debt.htmlThis article mentions that Ghana, Zambia and Ethiopia are trying to restructure their debts and work out an agreement with their creditors. Why can't Ndii do the same?
These African countries are too poor. Most of the debts borrowed have been stolen by regimes. I agree with Wanjigi. This is odious debt that hasn't benefitted the poverty stricken populations of these countries. They should not be repaid. An entire new paradigm shift needs to occur with the world bank and IMF. Their post world war two theories no longer work in this globalized world.
Topic: Debt Forgiveness For Africa Has to become a discussion (Read 941 times)