Church leaders from across Africa have warned that the continent’s leaders unbrindled appetite for borrowing could plunge their countries into a cash crisis. The clerics noted that most African countries’ debt had become unsustainable, with the funds being channelled into projects shrouded in secrecy. Most African countries are already knee-deep in debt and their leaders can’t just stop borrowing—as long as there are willing lenders. There is no doubt that African leaders need to raise their subjects from the pits of abject poverty. What African countries should always remember is that there is nothing like free lunch.

Source: Standard Digital October 01, 2020 01:01 UTC