Veronica Brand

A significant controversy surrounding African economic development is the continent’s external debt to private lenders, foreign governments, and multilateral institutions such as the World Bank and the International Monetary Fund (IMF). Such debt in sub-Saharan Africa has grown from $3 billion in 1962 to about $225 billion in 1998. Many African countries spend more in debt repayments than they do for education and social welfare programs. In the following viewpoint, Veronica Brand argues that debt obligations pose a significant obstacle to African nations struggling to develop their economies, and that creditors should consider forgiving some of Africa’s debt. Debt repayment programs imposed by the IMF and World Bank create special hardships for Africa’s poorest citizens, she contends. Brand, a citizen of the African country of Zimbabwe, lives in Rome...