ADDIS ABABA, Ethiopia — The African Union Commission has warned that the continent’s growing debt burden is undermining development and eroding fiscal space for governments.
Speaking at a G20-Africa high-level dialogue on debt sustainability, AU Commission chairperson Mahamoud Ali Youssouf, who is also Djibouti’s foreign minister, said Africa’s public debt has risen to about $1.8 trillion, representing nearly two-thirds of the continent’s GDP.
Mounting Debt Pressures
Youssouf noted that in 2024 alone, debt-service payments exceeded $70 billion, consuming a rising share of public revenues. He warned that many governments are now spending more on debt servicing than on investments in human development, leaving economies and citizens vulnerable.
Call for Action
The AU chair stressed the need for urgent collective measures to restore debt sustainability and improve Africa’s access to capital on fairer terms. He highlighted the high cost of borrowing and limited access to concessional finance as key drivers of the crisis.
Development at Risk
With debt repayments crowding out spending on education, healthcare, and infrastructure, Youssouf said the continent’s development prospects are being severely undermined. He urged international partners and African governments to work together to ease the burden and create conditions for sustainable growth.