Impact of COVID-19 in Africa: A severe setback for development

COVID was late to arrive in Africa, with initial infection and death rates lower than elsewhere in the world. Community transmission is however now accelerating in most countries, with lack of safe water as a major contributing ...

Economic recovery after shutdown could take up to three years

The coronavirus pandemic poses an enormous challenge for the domestic and global economy. Despite the measures taken by the Austrian government, the consequences of the lockdown and partial suspension of global trade flows ...

Coronavirus threatens nearly 20 million African jobs: study

Millions of lost jobs, mounting debt woes and plunging remittances are among the economic hardships African countries can expect because of the COVID-19 pandemic, the African Union said in a study published Monday.

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Debt

A debt is an obligation owed by one party (the debtor) to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.

A debt is created when a creditor agrees to lend a sum of assets to a debtor. Debt is usually granted with expected repayment; in modern society, in most cases, of the original sum plus interest.

In finance, debt is a means of using anticipated future purchasing power in the present before it has actually been earned. Some companies and corporations use debt as a part of their overall corporate finance strategy.

This text uses material from Wikipedia, licensed under CC BY-SA