Africa Must Plug $580 Billion Leak to Curb Debt, AfDB Chief Says

African governments must end corruption and illicit capital flows that cost the continent more than $580 billion annually if they’re to deal with a debt pile that’s approaching $2 trillion, according to the head of the African Development Bank.

While nations also need access to more concessional financing — and debt-restructuring where necessary — curbing outflows is crucial, Akinwumi Adesina, the lender’s president, said in an interview last week.