Africa's Debt Crisis

Two United States financial officials made separate visits to African countries because some of them are looking to restructure their debt. On separate visits, they visited Zambia, which was "the continent's first pandemic-era defaulter on foreign debt in 2020." China helped reframe Zambia's debt, but they are also being blamed for slow progress because China is pushing its own agenda first. 

The US officials are almost acting as a mediator in the relations between Zambia and China to hopefully speed things along, but the Chinese Embassy responded that the US should focus on their domestic debt before trying to help others (the US has a national debt of $31.5 trillion). 

Some reasons for states in Africa having a high debt are because of low tax collection and high interest loans. (Foreign Policy).

-- Sydney Park