How indebted is Africa and to whom is the debt owed?
How Much: According to analysts, Sub-Saharan Africa, economically the worlds poorest region, but carries US$201 billion in debt [3] and pays $14 billion annually in debt service. [4] <#_edn5" name="_ednref6">Paying billions of dollars a year in debt service takes away from Africas already scarce resources to invest in economic development, job creation, education, and health care. With some 300 million people living on less than $1 a day in Africa, approximately 38 million are facing a hunger crisis. [5] Adding to this, with only 10% of the worlds population, approximately 60% of the worlds HIV/AIDS cases (25.8 million) are found in Sub-Saharan Africa. [6] To Whom: There are three main types of international debt: bilateral, multilateral, and private.
