Dakar, the capital of Senegal, is set to host a continental conference that aims to reflect on the growing debt tragedy of African countries and possible solutions. The 3rd edition of the African Conference on Debt and Development (AfCoDD III) is scheduled to take place from 30th August to 1st September 2023. The organizers of the conference argue that Africa’s perpetual crisis mode and dependency policy making approach needs a rethink. Africa’s debt burden is directly becoming a burden on Africans who are having to pay the price both irresponsible borrowing and equal irresponsible lending,” states the concept note of the conference. The latest UN report on global debt burden, indicated that in 2022, global public debt – comprising general government domestic and external debt – reached a record USD 92 trillion.

Source: News Business Ethiopia August 22, 2023 13:01 UTC