As many as eight African countries are in need of debt restructuring due to a funding squeeze, according to a key official from the International Monetary Fund (IMF). The IMF official highlighted the urgent need for international relief to address the growing debt crisis in Africa. Zambia recently signed an agreement to reorganize its loans with official creditors, a move welcomed by the G20. The decline in Chinese lending to African countries may put pressure on other rich nations, such as Saudi Arabia, to step in. The IMF African Department Director emphasized that debt deals are being struck more quickly than in the past, but the situation remains varied across sub-Saharan Africa. Ethiopia is also seeking debt relief from other creditors after China. The IMF official's comments underscore the ongoing challenges and efforts to resolve the debt crises in African nations.
Africa needs international relief from a vicious funding squeeze that have left as many as eight of its countries requiring debt restructuring, a key IMF official says https://t.co/fbsYzjCOve
Ethiopia seeks debt relief from other creditors after China, IMF official says https://t.co/KjRE0SwNot https://t.co/cKS0qrJ1Ck
Up to eight African nations need debt help, IMF African Department Director Abebe Selassie says He told @BloombergTV there is a "varied" picture in sub-Saharan Africa, and debt deals are being struck more quickly than in the past https://t.co/uE1UISlq7n https://t.co/p4yb1H1f5T
G20 draft welcomes moves on Zambia, Ghana debt restructurings https://t.co/S9dknb2Fh9 https://t.co/nbOk7fkmbo
G20 draft welcomes moves on Zambia, Ghana debt restructurings https://t.co/AAe9EiDb2m https://t.co/s30rEXRzBn
African countries are getting closer to resolving debt crises, but the line is getting longer https://t.co/LCnJlLAyFU
African countries are getting closer to resolving debt crises, but the line is getting longer https://t.co/CYVDN2OSLs
A decline in Chinese lending to countries in Africa may put pressure on rich nations like Saudi Arabia to take its place, according to the IMF https://t.co/fQ6VRz9d2U
A decline in Chinese lending to countries in Africa may put pressure on rich nations like Saudi Arabia to take its place, according to the IMF https://t.co/pS4XnPWpWO
Zambia poised to sign debt restructuring MoU -finance minister https://t.co/M5MSSQRqNr https://t.co/78mxdRXzRG
Zambia signs a long-awaited agreement to reorganize its loans with official creditors, the IMF's Kristalina Georgieva says https://t.co/GAi9vKWXY5
Zambia signs debt deal with creditors: IMF chief https://t.co/WSSyMY37dI
Africa needs international relief from a vicious funding squeeze that have left as many as eight of its countries requiring debt restructuring, a key IMF official said https://t.co/P2AbsOTsLa
Zambia signs a long-awaited agreement to reorganize its loans with official creditors, the IMF's Kristalina Georgieva says https://t.co/ePUszgWJQc
Africa needs international relief from a vicious funding squeeze that have left as many as eight of its countries requiring debt restructuring, a key IMF official said https://t.co/CkBzUNJNZl
Africa needs international relief from a vicious funding squeeze that have left as many as eight of its countries requiring debt restructuring, a key IMF official said https://t.co/Nd9TTZqn5b