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Africa Faces $90 Billion Debt Crisis, Egypt Most Affected

2/5/2026

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Summary

Story summary

S&P Global Ratings warns African governments face rising debt risks as external repayments exceed $90 billion in 2026, more than triple 2012.
Egypt accounts for nearly one-third of the total, with $27 billion due.
Despite improvements in sovereign ratings and a 4.5% growth outlook, external vulnerabilities persist.
Fiscal deficits are expected to narrow to 3.5% of GDP, with debt near 61% of GDP.
South Africa may gain upgrades if fiscal reforms advance.

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Story summary

S&P Global Ratings warns African governments face rising debt risks as external repayments exceed $90 billion in 2026, more than triple 2012.
Egypt accounts for nearly one-third of the total, with $27 billion due.
Despite improvements in sovereign ratings and a 4.5% growth outlook, external vulnerabilities persist.
Fiscal deficits are expected to narrow to 3.5% of GDP, with debt near 61% of GDP.
South Africa may gain upgrades if fiscal reforms advance.