#africanews #ibrahimtraore There is no doubt that majority of the current African leaders are weak, greedy and have no standards. This is why the West has continued to control and manipulate the affairs of the continent in their interest. However, the recent wave of coups which swept across West Africa beginning from 2020, brought in a new set of leaders who are strong willed, patriotic and have proven that they will not be moved by the ideals, principles and threats of the West. We are talking about the military leaders of the Sahel and notable among them is the leader of Burkina Faso, President Ibrahim Traore. Recently, President Traore did something that only few African leaders have done and it has proved that he is indeed a man of integrity. So, what exactly did he do? Let’s find out.
As of 2023, Africa’s total debt amounted to about 1.8 trillion dollars. Interestingly, as high as this figure may seem, it is actually lower than any world region. It would surprise you to know that Germany, a country in Europe, has a debt stock of about 2.9 trillion dollars which is far greater than all the debts of African countries put together. However, the problem is that African countries' debts are burdensome and put a lot of pressure on their economies because they are mainly owed to international rather than domestic lenders. In contrast, developed countries such as Germany, the United States, and the United Kingdom usually borrow from domestic creditors. And, the difference between these two is that external lenders prefer to lend to developing countries in their own currency or international ‘hard currencies’ such as the dollar while domestic lenders lend using the country’s local currency.
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