Editorial: Boost African research in exchange for debt relief
The lingering effects of pandemic-induced lockdowns and disrupted supply chains are clearly contributing to the lack of these most fundamental services, the report says. But there’s arguably a bigger and more systemic reason: highly indebted countries are being stopped from investing their resources in research and development. And that, in turn, makes it harder for them to attract private investment.
By the end of last year, 22 African countries were in or at risk of debt distress. Their leading creditors, such as the International Monetary Fund and governments, notably China, insist that debt repayments be prioritized, so they will need to spend most of what they earn through taxes on paying off debts. But the dysfunctional nature of today’s geopolitics means that there’s little coordination between these creditors.
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