People in sub-Saharan Africa are feeling the effects of a funding crisis. imf fundingcrisis inflation
Countries from the Sub-Saharan Africa region face a “big funding squeeze” which is forcing some of them to cut spending on health, education, and infrastructure. According to Abebe Aemro Selassie, people from the region are already “feeling the effects of the funding crisis.” The IMF says countries from the SSA region should also consider having in place “a well-functioning debt-resolution framework.
“People in sub-Saharan Africa are feeling the effects of a funding crisis. Since Russia’s invasion of Ukraine, [the] cost of living is more expensive, borrowing costs have increased and access to cheaper funding is dwindling. Coupled with a long-term decline in aid and a more recent fall in investment from partners, this means that there is less money to be spent on vital services like health, education, and infrastructure,” Selassie argues.
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