1. Home
  2. Update
Author(s): Antony Sguazzin

Cyclones and interest rates fuel an African debt crisis

Source(s): Bloomberg LP
Upload your content

Climate change-induced natural disasters have combined with surging interest rates to send some of Africa’s poorest countries and their most vulnerable citizens into a debt trap.

This year, cyclones and torrential rains lashed Mozambique, Malawi and eastern South Africa, destroying crops and infrastructure in what’s becoming an annual pattern.

[...]

Cash-strapped governments can’t pay for better roads, bridges and other measures to guard against everything from more frequent floods and droughts to rising sea-levels — problems caused by emissions from industrialized nations elsewhere.

[...]

 

Read the original story here

Editors' recommendations

Explore further

Hazards Cyclone, Hurricane and Typhoon
Themes Economics of DRR Governance
Country and region Africa

Please note: Content is displayed as last posted by a PreventionWeb community member or editor. The views expressed therein are not necessarily those of UNDRR, PreventionWeb, or its sponsors. See our terms of use

Is this page useful?

Yes No
Report an issue on this page

Thank you. If you have 2 minutes, we would benefit from additional feedback (link opens in a new window).