There are 119 countries around the world in dire financial straits, weighed down by massive debt, says a report from the Catholic aid organization Misereor. Their coffers are empty, the threat of bankruptcy looms large.
While domestic corruption and mismanagement are part of the problem, activists say the situation is complex. The international community is also to blame for the enormous mountain of debt threatening African economies.
Freed from the strict orders of international creditors, Greece is now witnessing a financial recovery. But years of biting budget cuts have left the country scarred and many Greeks starving. Anthee Carassava reports.
The US has a new strategy for Africa to counter China and Russia. Rather than roll their eyes at the new scramble for the continent, Africans should see it as a chance to get the best deal for themselves, analysts say.
Africa is groaning under its worst debt burden since 2001. On the continent where many countries faced bankruptcy in the 1990s, once again the outlook is grim. This time around, help is harder to find.
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