African Countries' Borrowing Costs Rise 91% Since 2020, Per ONE Data Analysis
A new analysis by ONE Data, supported by The Rockefeller Foundation, shows that the average borrowing cost for African countries increased by 91% from 2020 to 2024. This rise is attributed to global events like the pandemic and the Russia-Ukraine war, with World Bank and Chinese lending rates also seeing significant increases. The report highlights the financial strain on African nations, particularly those in the 'squeezed middle' category.
Topics: Africa borrowing costs China debt economic impact global events World Bank