Facts, Financial List

Top 20 Most Indebted African Countries

11) Democratic Republic of the Congo – $7,644,000,000

As of 2013, according to the Human Development Index, the Democratic Republic of the Congo has a low level of human development. The nation was 186th among 187 nations. Political instability and corruption are major issues faced by the nation. IMF and World Bank announced $12.3 billion in debt relief for the nation in 2010. Its 2012 external debt was $7.6 billion.

Democratic Republic of the Congo (DRC)

10) Ethiopia – $9,956,000,000

Ethiopia is one of the fastest growing economies in the world. The nation recorded a government debt to GDP of 27.4 percent. Ethiopian economy is in a good shape. The sectors the debt is invested on rank at the top of the necessity and returns scale. Ethiopia has an external debt of $9.9 billion as of December 2012.

Ethiopia Map

9) Nigeria – $10,100,000,000

In 2014, Nigeria‚Äôs economy became the largest in Africa, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively. Nigeria is an emerging market. External debt in Nigeria averaged $5943.38 from 2008 to 2015. In December 2012 the oil-rich nation’s debt was estimated at $10.1 billion.

Nigeria Map: List of Countries in West Africa

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    Sooner than later, South Africa will assume the status of the likes of nations like, Venezuela and Greece whose public debt puts in total financial burden. I hope that the illiterate politicians will realize then, that they have done more harm than good to the poorest of the poorest in South Africa.

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