The Managing Director of the International Monetary Fund, IMF, Kristalina Georgieva, says forty percent of African countries are in debt crisis.
She described Africa as a continent of opportunities and one with numerous plights, noting that the focus is to help countries have sound macro-economic policies, improve the investment climate and show it to the rest of the world.
The newly appointed IMF Managing Director, while commenting on the debt levels of countries, said the organisation is worried about debt levels in Africa.
Georgieva explained that countries that were experiencing higher growth rate had done so, by borrowing for investments that could generate growth and reducing red tape for local and foreign investors. She added that the IMF would hold a concentrated meeting with African leaders in December to deliberate debt sustainability.
