Debt Crisis Looms Over 5 East African Community Members - IMF Reports

Debt Crisis Looms Over 5 East African Community Members - IMF Reports

0 0 about 1 year ago
A rapid build-up of loans has pushed East African countries close to a debt crisis, putting at risk the region's long-term economic stability. Five East African Community member countries have together amassed more than $100 billion domestic and foreign debt, stretching their repayment budgets to the limit. Kenya and Burundi have the highest loan distress profiles relative to their EAC peers, with their debt to gross domestic product (GDP) ratios projected to exceed 60 percent this year. The ... See More

Find us on Facebook