UNCTAD Africa report to be launched in Nairobi, Kenya, on 21 July during UNCTAD 14 conference

United Nations Conference on Trade and Development (UNCTAD)

NEW YORK, United States of America, July 13, 2016/APO/ —

The UNCTAD Economic Development in Africa Report 2016 has found that while Africa’s external debt ratios appear manageable, African Governments must take action to prevent rapid debt growth from becoming a crisis, as experienced in the late 1980s and 1990s.

The report, to be launched by UNCTAD Secretary General Mukhisa Kituyi at UNCTAD 14 (unctad14.org/en/Pages/Home.aspx) in Nairobi, Kenya, on 21 July, says that African Governments should add new revenue sources to finance their development, such as remittances and public–private partnerships, and clamp down on illicit financial flows, to avoid debt that could become unsustainable in some countries.

At least $600 billion will be needed each year to achieve the Sustainable Development Goals in Africa, according to the report.

Distributed by APO on behalf of United Nations Conference on Trade and Development (UNCTAD).

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