Public debt has been the centre of attention for decades, which has necessitated the evolution of various debt management policies, especially by international financial institutions (International Monetary Fund- IMF, World Bank), which control world financial architecture. Africa’s debt has spiraled in recent years, driven by the need to address huge investment gaps for its development objectives, and more recently, the debt sustainability risks have increased owing to COVID-19’s impact on revenues and expenditures.
Utilising exploratory and comparative methods, this policy paper investigates the impact of multiple crises, including Covid-19 and the Ukraine-Russia war, on Africa’s expanding debt levels. Vital direction from…