Assessing public debt risks in Africa

In this Update, we present our sovereign debt heat map that provides a snapshot of debt risks across Sub-Saharan Africa. Government debt is still above pre-pandemic levels and most economies we cover will require further adjustment to their fiscal balances to stabilise debt-to-GDP ratios. Countries like Angola and Mozambique with high shares of debt in foreign currency are most at risk of debt distress in the event of a sudden deterioration in terms of trade and/or currency weakness.