Name: Gayramara, Riza Lee S.

Code/Subject: GE – 3 (10957)

Africa Spends More on Debt Servicing than Health Care, Secretary-General

Tells High-level Policy Dialogue, Urging Financing, Investment in Continent

According to the Secretary-General of the United Nations, many African countries

are spending more money paying off their debts than they are spending on
healthcare. This is a problem because it means that African countries have less
money to invest in essential public services such as healthcare, education, and
infrastructure.
This issue is not new, and the COVID-19 pandemic has made it even worse. With
many African countries struggling to service their debt, they are forced to choose
between paying off their debts or investing in healthcare, education, and other
important services. Unfortunately, debts often take priority, leading to underfunded or
poorly equipped healthcare systems.
To address this issue, the Secretary-General has called for more funding and
investment in Africa. This includes debt relief and restructuring, as well as more
money for healthcare systems and other essential services. Private sector
investment in African economies is also crucial for driving economic growth and
creating jobs.
Overall, the issue of debt servicing versus healthcare spending in Africa is complex,
but with coordinated efforts from various stakeholders, solutions can be found to help
African countries escape their debt burden and invest in their citizens' health and
well-being.

https://press.un.org/en/2023/sgsm21809.doc.htm