Credit agency says some EA countries’ debt worrying
Credit agency Standard and Poor says interests on debts owed by 11 African countries were at a crisis level, a new report says. FILE | NATION MEDIA GROUP
Interest levels on debts owed by 11 African countries that were part of the World Bank’s Heavily Indebted Poor Country (HIPC) Initiative of the early 1990s are now back at pre-crisis levels.
A new report from international credit agency Standard and Poor’s lists Uganda, Rwanda and Ethiopia among the 11 countries where it says the HIPC Initiative has failed.
