Africa's Debt Crisis Addressed at WAAPAC Conference in Abuja

Speaker Abbas highlighted Africa's debt crisis at the 11th Annual Conference of the West Africa Association of Public Accounts Committees in Abuja. He emphasized the urgent need for reform in borrowing practices and stronger oversight to ensure economic and social returns match the borrowed funds.

Abbas pointed out the critical point reached by Africa's debt trajectory, with total public debt on the continent surpassing US$1 trillion in 2022. The call for transparent borrowing practices and collective resolve aims to address the alarming debt levels across African countries, impacting essential services like healthcare.