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2025-09-13 00:47:52
[IMF: Africa's total loans reach $69 billion, and more credit is needed] African countries' demand for International Monetary Fund (IMF) financing is expected to remain high as debt burdens continue to rise and cheaper options remain scarce, despite growing backlash against the IMF's harsh austerity terms. An IMF spokesperson said the Washington-based bank has provided nearly $69 billion in financing to the region since 2020 and expects to continue providing credit. They said: "Driven by ongoing shocks and rising debt pressures, we see continued demand from African countries for IMF support, including new projects, extensions and expansions."
