Most indebted African countries: Being in debt is such an uncomforable position to be as an individual, organisation or a country. But sometimes, debt is nearly inevitable and the African continent, despite its fast-rising economic growth rate has countries which owe trillions of dollars.
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Here are the top 10 African nations with the most debt, according to World Bank and CIA World Factbook with information regarding external debt of each country in US dollars. External debt is the total public and private debt owed to nonresidents, repayable in internationally accepted currencies goods or services.
The economy of Uganda has been reformed and growth has been better. The nation has a Human Development Index of 0.484 and is ranked 164 out of 186; one of the lowest in the world. In 2000, it was among the Heavily Indebted Poor Countries (HIPC) debt relief initiative worth $1.3 billion. Despite the average annual economic growth of 2.5% at the time Uganda’s poverty reduction did not change. In December 2012 Uganda’s external debt was $3.6 billion.
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