Africa faces a mounting debt crisis
Rising rates are hurting some of its brightest economic stars
A year ago Ghana’s finance minister, Ken Ofori-Atta, eschewed talk that his country would need a bail-out from the IMF. Ghana had at that point been in and out of 16 IMF programmes since attaining independence in 1957. “We have forgotten how difficult and tenacious that master from Washington was,” he said.
This article appeared in the Middle East & Africa section of the print edition under the headline “Seeing red again”
From the May 20th 2023 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Middle East & Africa
West African booze is becoming a luxury product
Female entrepreneurs are leading the charge
First, the ceasefire. Next the Trump effect could upend the Middle East
Will Israel and Donald Trump use the threat of annexation to secure a new grand bargain?
After 15 months of hell, Israel and Hamas sign a ceasefire deal
Donald Trump provided the X factor by putting heat on Binyamin Netanyahu, who insists the war isn’t over yet
A hidden refuge in Sudan that the internet, banks—and war—can’t reach
A visit to the Nuba mountains provides a glimpse into the future of the country
Violent jihadists are getting frustrated by the new Syria
Tipsy dancers, Christmas decorations, Shias and women’s rights are in the crosshairs
America concludes genocide has been committed in Sudan—again
The move highlights the magnitude of Sudan’s civil war but does little to end it