A rising debt bill in Africa is wrestling away funds needed for infrastructure and dampen hopes of a speedy recovery from the economic fallout of the coronavirus pandemic. As export and tax revenues decline due to subdued global demand and domestic activity, debt costs are eating up a larger share of countries’ income in a region that already spends less than any other on infrastructure. After 25 years of uninterrupted economic growth, gross domestic product in sub-Saharan Africa could contract by 2.8% this year, according to the World Bank.
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