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Tuesday, 12 December 2017 17:05

Africa’s Top 10 Most Indebted Countries

Most Indebted African Countries  According to World Bank

South Africa – 137,500,000,000
Egypt – 48,760,000,000
Sudan – 39,700,000,000
Morocco – 29,420,000,000
Tunisia – 24,490,000,000
Angola – 19,650,000,000
Ghana –
Tanzania – 11,180,000,000
Nigeria – 10,100,000,000
Ethiopia – 9, 956.000,000

1.South Africa – 137,500,000,000
The country recorded a government debt equivalent to 50.10%t of the country’s GDP in 2015. The debt of the Government to GDP in South Africa was an average of 37.89 percent from 2000 until 2015.  The highest was  50.10 percent in 2015, and the lowest was 27.80 percent in 2008. Entrepreneurs use the Government’s debt as a percent of GDP to gauge the country’s capability to offset its debt in the future, thus affecting the country borrowing costs and government bond yields.

2.Egypt – 48,760,000,000
In the fourth quarter of 2016, Egypt’s External Debt rose to 67322.60 USD Million from 60152.60 USD Million at the end of the third quarter of the same year. External Debt in Egypt was an average 33433.40 USD Million from 1997 until 2016.  The debt recorded a low of 26132.50 USD Million in the first quarter of 2001.  In the country, external debt is a part of the total debt that it owes to creditors outside the country.

3.Sudan – 39,700,000,000
In 2015 Sudan public debt was 59,372 million dollars, has increased 4,469 million since 2014.It implies that the borrowing in 2015 reached 72.91% of Sudan’s GDP, a 4.35 percentage point falls from 2014 when it was 77.26% of GDP. Sudan’s debt has been on the rise since 2005 in global debt terms when it was 25,152 million dollars although it had fallen as a percentage of GDP when it amounted to 94.95%.In 2005, was 713 dollars per person.  However, the position of Sudan as one of the most indebted African countries has significantly improved in 2015 regarding GDP percentage.

4.Morocco – 29,420,000,000
External Debt in Morocco increased to 46499.84 USD Million dollars in the third quarter of 2016 from 45300.64 Million dollars in the second quarter of 2016. External Debt in Morocco averaged at 27165.24 USD Million between 2006 and 2016, reaching a high of 46552.41 USD Million in the third quarter of 2016 and a record low of 15070.91 USD Million in the first quarter of 2007.

5.Tunisia – 24,490,000,000
In 2015 Tunisia public debt was 24,275 USD million dollars, has increased 264 million since 2014.The amount of debt in 2015 reached 55.71% of Tunisia GDP. A 4.15 percentage point rise from 2014 when it was 51.56% of GDP.Since 2005, the debt has been growing and is the fourth most indebted African countries. Tunisia per capita debt in 2015 was 2,157 dollars per inhabitant. In 2014 it was 2,232 dollars, after that increasing by 75 dollars, and in 2005,  the debt per person was 1,687 dollars. The position of Tunisia, as compared with the rest of the world, has improved in 2015 regarding GDP percentage.

6.Angola – 19,650,000,000
The External Debt in Angola rose from 35933.10 USD Million in 2014 to 36278.70 USD Million in 2015. However, from 2002 to 2015, it averaged 17463.91 USD Million reaching a high of 36278.70 USD Million and a low of 7594.83 USD Million in 2006.

7.Ghana –
Ghana’s public debt was 26,686 million dollars, in 2015 and still rank as one of African indebted countries. It has risen by 1,168 million since 2014.In 2015, the debt was 70.82% of Ghana GDP, a 1.33% point drop from 2014, when it was 72.15% of GDP.Ghana’s  global debt has been rising since 2005 when it amounted to 8,368 million dollars and also regarding GDP percentage when it was 47.99%.The country’s per capita debt in 2015 was 974 dollars per inhabitant. In 2014 it was 1,040 dollars, and later went up by 66 dollars, and in 2005, the debt per resident was 392 dollars. Regarding GDP percentage, Ghana’s position improved in 2015.

8.Tanzania – 11,180,000,000
In Tanzania, the External Debt increased to 17440.90 USD Million in January from 16986.20 USD Million in December 2016. The External Debt in Tanzania maintained an average of 12805.61 USD Million from 2011 until 2017, recording an all-time high of 17440.90 USD Million in January of 2017.  In December of 2011, it recorded a low of 2469.70 USD Million.

9.Nigeria – 10,100,000,000
Nigeria’s Internal Debt rose to 11406.28 USD Million in the fourth quarter of 2016. In the third quarter of 2016, it was  1,1261.89 USD Million. It averaged 6920.43 USD Million between 2008 and 2016,  in the fourth quarter of the same year it was the highest at 11406.28 USD Million and a recorded a decrease to 3627.50 USD Million in the first months of 2009.

10.Ethiopia – 9, 956.000,000
Ethiopia’s public debt in 2015 amounted to 34,539 million dollars, has been on the increase since 2014with a rise of 8,843 million.The debt in 2015 reached 56.05% of the country’s GDP, a 9.75 percentage point increase when it was 46.3% of GDP in 2014. It has risen since 2005 in global debt when it amounted to 9,695 million dollars although it dropped as a percentage of GDP when it was 78.24%.Ethiopia per capita debt in 2015 was 348 dollars per inhabitant. In 2014 it was 265 dollars, afterward rising by 83 dollars.The debt per person was 129 dollars in 2005. Ethiopia’s situation has worsened in 2015 concerning GDP percentage, making it the tenth of the most indebted countries in Africa.

President Trump on Wednesday, December 6, 2017  officially recognized Jerusalem as the capital of Israel, reversing nearly seven  decades of American foreign policy. Mr. Trump made the formal announcement during a speech in the Diplomatic Reception Room of the White House, with Vice President Mike Pence standing behind him.

Below is  transcript of President Trump remarks:

Thank you. When I came into office, I promised to look at the world’s challenges with open eyes and very fresh thinking. We cannot solve our problems by making the same failed assumptions and repeating the same failed strategies of the past. All challenges demand new approaches. My announcement today marks the beginning of a new approach to conflict between Israel and the Palestinians.

In 1995, Congress adopted the Jerusalem Embassy Act urging the federal government to relocate the American Embassy to Jerusalem and to recognize that that city, and so importantly, is Israel’s capital. This act passed congress by an overwhelming bipartisan majority. And was reaffirmed by unanimous vote of the Senate only six months ago.

Yet, for over 20 years, every previous American president has exercised the law’s waiver, refusing to move the U.S. Embassy to Jerusalem or to recognize Jerusalem as Israel’s capital city. Presidents issued these waivers under the belief that delaying the recognition of Jerusalem would advance the cause of peace. Some say they lacked courage but they made their best judgments based on facts as they understood them at the time. Nevertheless, the record is in.

After more than two decades of waivers, we are no closer to a lasting peace agreement between Israel and the Palestinians. It would be folly to assume that repeating the exact same formula would now produce a different or better result. Therefore, I have determined that it is time to officially recognize Jerusalem as the capital of Israel. While previous presidents have made this a major campaign promise, they failed to deliver.

Today, I am delivering. I’ve judged this course of action to be in the best interests of the United States of America and the pursuit of peace between Israel and the Palestinians. This is a long overdue step to advance the peace process. And to work towards a lasting agreement. Israel is a sovereign nation with the right, like every other sovereign nation, to determine its own capital. Acknowledging this is a fact is a necessary condition for achieving peace. It was 70 years ago that the United States under President Truman recognized the state of Israel.

Ever since then, Israel has made its capital in the city of Jerusalem, the capital the Jewish people established in ancient times. Today, Jerusalem is the seat of the modern Israeli government. It is the home of the Israeli Parliament, the Knesset, as well as the Israeli Supreme Court. It is the location of the official residence of the prime minister and the president. It is the headquarters of many government ministries.

For decades, visiting American presidents, secretaries of State and military leaders have met their Israeli counterparts in Jerusalem, as I did on my trip to Israel earlier this year. Jerusalem is not just the heart of three great religions, but it is now also the heart of one of the most successful democracies in the world. Over the past seven decades, the Israeli people have by the a country where Jews, Muslims and Christians and people of all faiths are free to live and worship according to their conscience and according to their beliefs.

Jerusalem is today and must remain a place where Jews pray at the Western Wall, where Christians walk the stations of the cross, and where Muslims worship at Al Aqsa Mosque. However, through all of these years, presidents representing the United States have declined to officially recognize Jerusalem as Israel’s capital. In fact, we have declined to acknowledge any Israeli capital at all.

But today we finally acknowledge the obvious. That Jerusalem is Israel’s capital. This is nothing more or less than a recognition of reality. It is also the right thing to do. It’s something that has to be done. That is why consistent with the Jerusalem embassy act, I am also directing the State Department to begin preparation to move the American embassy from Tel Aviv to Jerusalem. This will immediately begin the process of hiring architects, engineers and planners so that a new embassy, when completed, will be a magnificent tribute to peace.

In making these announcements, I also want to make one point very clear. This decision is not intended in any way to reflect a departure from our strong commitment to facilitate a lasting peace agreement.  We want an agreement that is a great deal for the Israelis and a great deal for the Palestinians. We are not taking a position of any final status issues including the specific boundaries of the Israeli sovereignty in Jerusalem or the resolution of contested borders. Those questions are up to the parties involved.

The United States remains deeply committed to helping facilitate a peace agreement that is acceptable to both sides. I intend to do everything in my power to help forge such an agreement. Without question, Jerusalem is one of the most sensitive issues in those talks. The United States would support a two-state solution if agreed to by both sides. In the meantime, I call on all parties to maintain the status quo at Jerusalem’s holy sites including the Temple Mount, also known as Haram al-Sharif. Above all, our greatest hope is for peace. The universal yearning in every human soul.

With today’s action, I reaffirm my administration’s longstanding commitment to a future of peace and security for the region. There will, of course, be disagreement and dissent regarding this announcement. But we are confident that ultimately, as we work through these disagreements, we will arrive at a peace and a place far greater in understanding and cooperation. This sacred city should call forth the best in humanity.

Lifting our sights to what is possible, not pulling us back and down to the old fights that have become so totally predictable. Peace is never beyond the grasp of those willing to reach it. So today we call for calm, for moderation, and for the voices of tolerance to prevail over the purveyors of hate. Our children should inherit our love, not our conflicts. I repeat the message I delivered at the historic and extraordinary summit in Saudi Arabia earlier this year: The Middle East is a region rich with culture, spirit, and history. Its people are brilliant, proud and diverse. Vibrant and strong.

But the incredible future awaiting this region is held at bay by bloodshed, ignorance and terror. Vice President Pence will travel to the region in the coming days to reaffirm our commitment to work with partners throughout the Middle East to defeat radicalism that threatens the hopes and dreams of future generations.

It is time for the many who desire peace to expel the extremists from their midsts. It is time for all civilized nations and people to respond to disagreement with reasoned debate, not violence. And it is time for young and moderate voices all across the Middle East to claim for themselves a bright and beautiful future. So today, let us rededicate ourselves to a path of mutual understanding and respect. Let us rethink old assumptions and open our hearts and minds to possible and possibilities.

And finally, I ask the leaders of the region political and religious, Israeli and Palestinian, Jewish and Christian and Muslim to join us in the noble quest for lasting peace. Thank you. God bless you. God bless Israel. God bless the Palestinians and God bless the United States.

Thank you very much. Thank you.

Born and raised in Houston to Nigerian parents, George Iloka had to talk his way into playing American football as a kid, but once he convinced his mom, he made the most of a college career at Boise State, and onwards to Cincinnati.  George Iloka attended Kempner High School in Sugar Land, Texas.

Now one of the premier safeties in the league, Iloka talks to KweséESPN about the Bengals' mixed season (3-4), his favourite players to watch, his time at school in South east Nigeria, and his melodic proposal to his fiancee. George Iloka signed a a five-year with Cincinnati Bengals, $30 million deal in 2016 that will pay him more than $19 million across three seasons.

Q: How did you get started playing football?
Iloka: I just liked it growing up. I saw it on TV and I asked my parents, 'Can I play?' They said no at first. My mom... because she was scared. I eventually convinced her and the rest is history.

Gaby BarceloIloka and fiancee.

Q: What was your favourite team as a kid?
Iloka: [Houston] Oilers. Until they switched [Moved to Tennessee]. Once they left I became a 'players' kind of guy.

Q: Who were your favourite players to watch?
Iloka: Barry Sanders, Sean Taylor, Ed Reed... I liked Troy Polamalu. Vince Young, Reggie Bush, Mario Williams. They were the greats, so [as a safety] you got to watch the film and see what things you can pick up, learn from them and see if you can put into your game.

Q: Tell us about your background. Where in Nigeria are your parents from?
Iloka: My dad is from Olo [outside of Enugu] and my mom is from Enugu. I lived there for six months. I went to school there, with my sister, for six months. It was in Enugu, a boarding school.

Q: When was the last time you went back?
Iloka: When I left [school]. I got sick, that's why I left early. I was supposed to be there for a year or two but I got sick three times.

Q: Do you speak Igbo?
Iloka: I understand and speak a little bit. I know the basics but I can't understand it all.

Q: Do you have a go-to Nigerian food that you have whenever your mom is around?
Iloka: Pepper soup.


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