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Africa’s Major Economies Sinking Under the Weight of Surging Debt, Reduced Trade, and Massive New Social Welfare Costs

The economic fundamentals in a growing number of Africa’s major economies are showing signs of rapid deterioration amid the ongoing economic crisis brought on by the COVID-19 pandemic. Seemingly every week there’s a new downgrade, analyst warning, or economic indicator that points to an increasingly dire situation for some of the continent’s largest and most important economies.

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