Africa is not working actively. The President and another governmental bodies looking their own interest without any concern for common people who is residing at lower socio – economic condition. The country is empowering with black economic power. The latest Africa this month has stacked up $110bn in foreign debt. Africa is suffering from debt crisis. Many ups downs are experienced by the country and its citizen.
In mid seventies Zambia was
prosperous nation. It was the only country where people income was highest. It
was calculated that $600 was the per head income in late 1975. But in next
three decades the country is receiving its downfall as copper prices tumbled.
But in 90s some improvement were noticed and per capita income increased. When
copper prices tumbled, Zambia and foreign lenders believed they would rebound
quickly. As result Zambia standard of living is declining. Situation turns so
worse that Zambia started experiencing debt crisis. Copper prices did not
rebound and Zambia debt grew with seven fold. The latest Africa this month its self state that Zambia moved from a solid middle income
country to a poster child of the highly indebted poor countries. If we look to
Kenya’s position we will come to know that Kenya is no more a resource rich
country.
To read more news about The latest Africa this month, latest Africa this month visit the Fair Obsrver or XReporters
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