Africa Update

Volume 2 1993

The Wages of Greed

Over and above the billions in grants, gifts and assorted aid, Africa owes Western creditors over $300 Billion.

The Continent’s debt burden amounts to 90% of its total Gross National Products.

Excluding the Arab nations of North Africa, the debt of sub-Saharan Africa is over 110% of its collective GNP.

Barely being able to pay half the interest on the debts, Africa spends four times more on debt servicing than on the provision of health care to its population of 600 million people. - Africa Debt Crisis - UN DPI 1993

“the borrower is servant to the lender” Proverbs 22:7
“Better a little with righteousness than much gain with injustice.” Proverbs 16:8

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