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The external debts of many African countries have increased, and they represent a major obstacle that undermines the success of economic development opportunities, shackles the decisions of those countries, and increases their political and economic burdens. During the recent period, some countries, especially in sub-Saharan Africa, tended to expand borrowing to compensate for the lack of foreign investment and weak domestic liquidity, and dependence on borrowing increased in a way that does not achieve economic growth, and may cause economic problems for countries, especially in the event of the inability to pay the burdens, and the trend to cut public spending; This causes weak spending on health, education and social welfare, which requires rational management of public debt, especially external, and economic reforms to encourage domestic investment and work to attract foreign direct investment. More than half of the continent’s countries have doubled their external debts. North African countries also recorded the fastest accumulation of external debt stocks. In addition, the economic repercussions of the Covid-19 pandemic, and the harbingers of the Russian-Ukrainian war, indicate that global financial turmoil certainly works to create an exacerbating debt crisis. In light of the escalating war of influence between Beijing and Washington over Africa, a debate began over their goals of financing projects in their countries. Accusations increased between the two sides that each of them seeks to set up a debt trap to the detriment of the African continent, an accusation that already exists, but in different ways in which things sometimes get mixed up. Since opening up to the world’s economies, the foreign debts acquired by the African continent were not the auxiliary tool for achieving economic development in the countries of the continent. And the severity of this problem has increased with the world going through global health and economic crises, such as the Corona epidemic and the Russian Ukrainian war. From this standpoint, African countries fell into the trap of foreign debts, which placed a heavy burden on their economic conditions. This burden increases with time and even multiplies, and negatively affects economic, social and even political conditions, and increases the dependence of the countries of the continent on creditor countries and institutions, thus limiting the efforts of The continent towards achieving sustainable development in accordance with the agenda set for the year 2063.
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