Punch Newspapers
Sections
…says illicit cash flow over $70bn
The President, African Development Bank, Dr Akinwumi Adesina, has described as unsustainable the debts owed by African countries, including Nigeria, saying it has become worrying.
He noted that it had become expedient to address the continent’s debt and development finance challenges, so as to avoid another “lost decade” and build resilient economies.
He added that the time is now for one last debt relief for Africa but that such relief would require that African countries credibly commit to their share of the deal through bold governance reforms to eliminate all forms of leakages in public resources, improvement in domestic resource mobilisation and enhanced transparency.