Standard Bank Group Limited says five major African economies will face debt risks over the next two years as pandemic reliefs for needy countries draw to an end.
The lender named Ghana, Kenya, Angola, Ethiopia and Zambia as the ‘fragile five’ of 18 countries in its latest report released February 10, 2022.
The report highlighted Uganda among the continent’s brightest stars in 2022.
Jibran Qureishi, head of African research at Standard Bank, told Bloomberg that ‘debt sustainability now requires sharper focus’.
Qureishi said Ghana probably needs an International Monetary Fund (IMF) package to restore confidence in investors.
The report added that Ghana would probably need to secure some sort of arrangement with the IMF to restore investor confidence.
– The Cable