By PAUL REDFERNMore by this AuthorThe World Bank says 18 sub-Saharan African countries are at "high risk of debt distress" in 2018 compared with just eight five years ago. The bank has also expressed concern that tax receipts are not meeting the cost of debt repayments in several countries. Public debt risingThe World Bank says that public debt relative to GDP is rising throughout most of sub-Saharan Africa, and the composition of debt has changed. “Higher debt burdens and the increasing exposure to market risks raise concerns about debt sustainability,” the report says. We are still far from pre-crisis growth levels,” said Albert G. Zeufack, World Bank Chief Economist for the Africa Region.

Source: Daily Nation April 26, 2018 13:41 UTC