Kenya’s recent tax increases and subsequent policy changes highlight the desperate struggle of governments to balance public debt repayment with essential services, amidst widespread civil unrest due to financial pressures.
The Ruto administration's reversal of tax increases illustrates a broader issue across Africa, where excessive debt and high interest payments significantly constrain investment in crucial sectors like healthcare and education.
With Africa's foreign debt surpassing $1.1 trillion, more than two dozen countries face excessive debt levels, risking defaults and compromising public spending on vital services.
The current debt crisis in Africa, marked by unprecedented amounts and a diverse array of foreign creditors, poses an ongoing challenge for nations striving for sustainable development.
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