By Prof. N’gola Kiluange
Washington D.C - African sovereign debt crisis came mainly to the surface shortly after the cold war, repressive and newly created liberal regimes previously aligned with the former Soviet Union or western blocs were forced to resort to loans from the World Bank, IMF or other western banking institutions, such as The Paris Club. And when they were turned down, all of them simply started looking East for China’s enticing aid and loans programs with “no strings attached.”
A consensus-building process around this issue will greatly help understand theexistence of the serious economic and financial chaos most of the continent is immersed in.Theaim of this literature review is to analyze the rationale behind the position level of corruption vs.extreme poverty in Africa.
As an attempt to clarify the issues at stake, the following conceptswill also be addressed here: debt forgiveness, recurrence of human rights violations vs…
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