Global Macro Service > Research Briefings > Africa

Beat of the debt relief drum begs bilateral creditors to dance

With Covid-19 spreading fast, African countries have been swift to enforce physical distancing measures, where possible, and limiting transport mobility in a bid to slow the pace of contagion. The enforcement of curfews and partial or complete lockdowns to flatten the curve will however contribute to the African economy’s inevitable contraction this year. The debt burden will worsen to risk a wave of forced debt restructuring unless agreements can be reached on debt holidays and waivers.

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