African Debt Crisis Looms Due to High Spending and Poor Risk Assessment, Experts Warn

African countries often in debt distress due to failure to cut social spending before default according to ex-Minister Adeosun

Adeosun says lack of early action and admitting distress leads to delays in needed restructuring

Nobel laureate Stiglitz says diverse creditors and lack of framework hampers sovereign debt restructuring

Stiglitz says private lenders bad at risk assessment, nothing learned since 2008 crisis

COVID-19 withdrawals caused massive debt problem in Africa, according to Stiglitz