Between life and debt
34 African countries spend more on external debt payments than healthcare and/or education
This report shines a light on the debt crisis across Africa, showcasing five African countries – Kenya, Nigeria, Ethiopia, Zambia, and Malawi. Christian Aid partners highlight how paying debt comes at the expense of African nurses’ salaries, investment in schools and expansion of social protection measures.
Key findings:
- Total external debt service by all African countries in was $85 billion in 2023 and $104 billion in 2024.
- Total external debt service by all African countries to private creditors was $39 billion in 2023 and $47 billion in 2024.
- Private creditors charge the highest interest rates, at 6.2%.
- 25 African countries spend more on debt than education.
- 32 African countries spend more on debt than healthcare.
The scale of this inequality between Africans and the rest of the world is so great that I am not sure the world will ever forgive us for failing to deliver urgent debt restructuring.
