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Credit: Asian Peoples’ Movement on Debt and Development (APMDD)
– The debt disaster is back. Indeed, the aid agency Cafod reports that developing countries today face “the most acute debt crisis in history”.
At least 54 countries are in a debt crisis – more than double the number in 2010. A further 57 countries are at risk of debt crisis. In the past decade, interest payments for developing countries overall have risen by 64%, and for Africa by 132%.
African countries are paying over 100 billion dollars a year to…