The World Bank says eight countries in sub-Saharan Africa are in debt distress, and 14 are at high risk of joining them.
The bank said that debt is projected to stay elevated at 58.6 percent of gross domestic product in 2022 in SSA. The World Bank said the war in Ukraine has continued to exacerbate already high inflation and weighing on economic activity by depressing both business investments and household consumption.
“More than one in five people in Africa suffer from hunger, and an estimated 140 million people faced acute food insecurity in 2022, up from 120 million people in 2021, according to the Global Report on Food Crises 2022 Mid-Year Update.
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