The African Development Bank has rubbished suggestions by World president David Malpass that it and other development banks have a tendency to lend too quickly and in the process add to the continent’s debt crisis.
The continent’s total external debt burden reached nearly $500bn , with Eurobonds more than a fifth of that. He said the AfDB, the Asian Development Bank and official export credit agencies have a tendency to lend too quickly, worsening challenging debt problems in emerging-market countries.
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