Why is Africa in debt?
597140
Years and years of borrowing massive amounts from the IMF and World Bank to build infrastructure (dams, power plants, schools, roads, etc.).  Decades of corrupt regimes that squandered and abscounded with billions upon billions.\n\nOnly recently, are many of these countries starting to get on their feet, but it took a great deal of political turmult to get there.  Uganda, for example, was a complete mess until Amin was overthrown and a new government installed.  They are prospering very nicely now.\n\nOther countries such as Ethopia, have been trashed by drought that killed their farming and rurual communities and plunged the cities into poverty.  That's a real mess.\n\nI could go on and on, but others are waiting.\n\nI hope this gives you some idea.
1181982
Nothing steal your money. Anything in Africa claiming to be a business isnt. There is no formidable business in Africa.
402366
About 43 percent of Africa's land surface is arid and low rainfall is considered a normal fact of life. However, drought, which used to occur on average every five to six years, has been happening more frequently over the last 12 years. It is the single most important natural hazard in terms of shattered livelihoods, starvation, deaths and nutrition-related diseases on the continent.\n\nBeyond the human cost, drought in Africa causes economic losses of tens of millions of dollars and can reverse years of national development gains. The crushing impact is much greater for pastoralists or subsistence farmers, who together make up some 69 percent of Kenya’s workforce and 83 percent of Ethiopia’s, according to the United Nations Food and Agriculture Organisation
574020
Lets not forget that africa is looked down upon because it's citizens are mostly black people. Around the world people have been prejudiced and treated the people of this continent just horribly. \n\nThere has been many many groups that have enslaved/abused them for centuries. Is it because we have seen them running around in their jungle clothes and we equate that with the idea of this group of people is not respectable and therefore we will step on them?  Well we know the answer to this has been yes. \n\nEven today the world looks at africa and see's hostilities and corruption at every turn. \n\nRemember Idi Amin? Ruthless leader that killed hundreds if not thousands of his own citizens.\n\nNot to mention stories of genocide that pop up every few years.\n\nI have heard stories of when slavery was legal that when countries went to africa to get slaves, their own leaders gladly sold them. \n\nAll this adds up to a contintent that has been abused by just about everyone, and the prejudice and bigotry to this day is prevalent. \n\nWhay can africa do to turn this all around? The answer has to be education, it would give them the ability to compete at a greater level with the rest of the world. It would help cut down on the spread of disease. A.I.D.S could be slowed down, as we all know A.I.D.S. is way out of control. I have heard estimates that some countries have as much as 30% infection rate.\n\nIf we can educate, run out the prejudice, run out the corruption, and most likely economic relief. Africa can turn things around.
688502
There are many arguements about this area. It is clear that the biggest disaster in Africa are the governments who are almost all completely corrupt and the widespread wars. \nThe best example of government impoverising a country is Zimbabwe. This country used to be an exporter of food, under the current corrupt regime of Mugabe people are dying of starvation.\nSouth East Asia 30 years ago had a similar poverty situation as countries in Africa, with little foreign aid they now have economies that work and have raised their standards of living for many of their people.\nThe worst case of foreign aid is the Palestinians, they have recieved more aid per head than any country in the world, the money has been taken by Arafat and the police to buy guns and bombs to kill. The people are now much poorer than 20 years ago when they had no foreign aid.
62616
In many of the countries they are not distributing the aid AT ALL.  In some they are and those economies tend to outperform the other ones over the long term.
387248
Africa is very rich in natural resources; however, european countries have claimed these areas for themselves and are mining them and selling all of the resources for their own profit. Gold,diamonds, etc. So, they are being screwed, that's why.\n\nSome of these answers are just ridiculous. They don't trade animals everywhere; Humanity did not leave Africa, that is racist and ridiculous; and they do have development in many areas. Cities in Ghana could be mistaken for NJ. They do not run around wearing animal skin togas in Africa. That's National Geographic shit.
1025176
The exchange rate is critical to a country's economic stability.  Significant fluctuations can cause a panic and the country won't be able to pay its bills.  For example, country Y owes country X one billion dollars.  If the value of the dollar goes from 1 Euro to 2 Euros, country Y would still have to pay the billion dollars, but it would actually cost country Y two billion to make the payment.  As for the IMF, if it's the lender of last resort, then duh -- yes it's important to the desperate country which may need the money to buy food for its people because it had a bad harvest due to weather, insects or war.
216796
Africa was colonized by many European countries--Britan, France, etc. They got their independence after World War II when countries had economy problems, weak militaries, and overseas possessions were unpopular especially if it mean more work.
276569
Nigeria = screwed for the foreseeable future\nPeople of Nigera = poor for foreseeable future\nWesterners they owe the money too = chillin'
805934
The World Bank and IMF lends developing counties money on the condition the sell their commons (oil fields, water rights, power structure). Most of the corporations that buy them up are multi-national, so the nation losses the profits and taxes from the commons. This in turn drives the nation deeper in debt.
1150535
Why restrict it to N. Africa. This continent produces nothing but wars, killings, tribalism and incompetent fools, fraudsters, sheep and bankrupt governments. They make me sick. The truth will hurt on this one. Mind you they get all the assist they need from morally bankrupt Westerners and Nations. Margaret Thatcher's son, MARK THATCHER, who now holds a CRIMINAL RECORD for his gun selling activities and support for coup makers, makes my point.\n\nSPECIAL THANKS TO Habblis for pointing out the facts as they exist.
15325
The debt is larger. As per the following link, the total debt  of the third world counties is around $2.3 trillion, whereas the human population is just 6 Billion. \n\nhttp://www.erc.org.au/issues/text/wd00.htm
528413
Firstly, let me correct your spelling. \nAustralians, and that includes me, are known as AUSSIES.\nSecondly, debt is a global problem.\nLastly, if there is an answer to the problem I for one would be interested to know how it would work and where I could find out more.
481467
Africans need to reject tribalism and work towards national unity.  Corruption is rampant, but in many situations is accepted because that corruption is good for whatever particular tribal group you belong to.  Also, the other nations of the world cannot lift africa up, africans must do it themselves.
558702
As an African, I dont like the idea of getting funds from the west but since the western countries are taking all the children of the africa who have the brains to work for them leaving their home countries poor.  How can these countries develop yet we still get the so called investors who end up employing mainly their statemens in good positions yet with good pay, working conditions. And when we talk of good pay, these guys are paid in dollars, pounds, euros irrespective of the countries they are working in.. This money is sent back to their home countries... \n\nIts still these developed western countries who are designing and producing dangerous weapons which are in most cases being used by African dictators to kill innocent children, women. These very good learned western friends always have hidden agendas as you will find two different countries supporting say 1 supports the rebels with guns, medicine, education and the other supports the government.\n\nI have alot I could say but you  western countries need to visit care.org such that you can start supporting the africans,  healing the sick with AIDs, and many other problems caused by many of our brothers, sisters who have hidden agendas in conflicts in Africa and the World at large.
587074
Well did you now that South Africa had the second strongest economy in the world next to Japan, during 1968-1971? But then America realized that they were going to be a mighty world power, and started sanctions on this beautiful country. Not to save the black people from Apartheid, but they used Apartheid to convince other nation to provoke their cause. But as the Holy Roman Empire came to a fall...so would America. Any country that is based on war and deception shall hit rock hard bottom.