Global interest rates are still hovering around historic lows, but a sharp rise could have ugly consequences for Africa’s economies.
Debt levels have been rising across the continent, but fears of a return to the dark days of the 1990s may be exaggerated.
Mozambique’s debt crisis threatens to sink its once booming economy, as debt levels are expected to hit 130% of GDP by the end of the year.
Zimbabwe bond notes have been hailed by the government as the answer to the country’s cash shortages. But not all Zimbabweans are convinced.
Mozambique is on the verge of sovereign default. The implosion of its public finances will make it harder for other countries to refinance their own debt.