The Inconvenient Truth: Debt does not make a nation poor; wasting it does
The 2025 numbers challenge one of Africa’s most persistent economic misconceptions. Global public debt stood at almost 94% of GDP: Japan’s exceeded 200%, the United Kingdom’s was above 100%, Singapore carried exceptionally high gross debt while remaining a major creditor with vast public assets, and South Africa remained close to 78%. Yet debt distress is profoundly unequal.