ELEVATEDBusinessDay NigeriaUnverifiedNo Trust Score IssuedUnpublished

Africa’s debt risks resurface as oil shock strains fragile economies

africadebt-crisisoil-pricesiransenegalmozambiquemalawi

Renewed sovereign debt risks are emerging across Africa due to rising oil prices linked to tensions with Iran, straining already fragile public finances. Countries such as Senegal, Mozambique, and Malawi are at risk of debt defaults within the next two years. The situation is exacerbated by the oil shock, which is putting pressure on the economies of these nations.

David Cowan,Citi’s Chief Africa Economist has cast a spotlight on renewed sovereign debt risks across Africa, as rising oil prices linked to tensions with Iran squeeze already fragile public finances. Speaking on Thursday, the Citi economist said Senegal, Mozambique and Malawi could face debt defaults within the next two years, with some at risk as […] read more Africa’s debt risks resurface as oil shock strains fragile economies ]]>

Africa’s debt risks resurface as oil shock strains fragile economies

[Sources]