Nigeria, Ghana and Côte d’Ivoire are West Africa’s biggest external debtors in 2021 – German report
Nigeria, Ghana and the Ivory Coast are the biggest debtors in West Africa because they have public debts in the order of 79.5 billion dollars, 21.9 billion dollars and 19, $ 5 billion respectively, according to a report.
This was reported by one of Germany’s leading providers of market and consumer data, Statista, stating that governments in the West Africa region have borrowed heavily in 2021 to shut down within days.
“In 2021, the total external public debt in West Africa stood at around 164 billion dollars. Nigeria and Ghana recorded the region’s highest debt levels, at around US $ 79.54 billion and US $ 21.91 billion respectively.
“On the other hand, The Gambia and Guinea-Bissau recorded the lowest values at US $ 823 million and US $ 382 million respectively,” the report reads in part.
According to GhanaWeb who released the report, the outstanding debt of 15 West African countries that was released was compiled on June 10, 2021, adding that the debts must have increased significantly.
Statista further revealed indebted countries like Nigeria – $ 79.5 billion, Ghana – $ 21.9 billion, Ivory Coast – $ 19.5 billion, Senegal $ 13.7 billion. , Mali – $ 5.1 billion, Guinea – $ 4.8 billion, the Republic of Niger – $ 4.2 billion, the Republic of Benin – $ 3.8 billion, Burkina Faso – 3, $ 7 billion, Cape Verde $ 1.9 billion, Sierra Leone – $ 1.8 billion, Togo $ 1.4 billion, Liberia – $ 1.3 billion, Guinea-Bissau – $ 382 million and The Gambia – $ 823 million.