Debt: IMF Says 40% Of African Countries In Crisis - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
November 21, 2019
TheManaging Director of the International Monetary Fund, IMF, KristalinaGeorgieva, says forty percent of African countries are in debt crisis.
Shedescribed 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.
Thenewly appointed IMF Managing Director, while commenting on the debt levels ofcountries, said the organisation is worried about debt levels in Africa.
Georgievaexplained that countries that were experiencing higher growth rate had done so,by borrowing for investments that could generate growth and reducing red tapefor local and foreign investors. She added that the IMF would hold aconcentrated meeting with African leaders in December to deliberate debtsustainability.