African countries will pay $74-billion in debt service payments this year, which is a sharp increase from $17-billion in 2010, and the continent's economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth. "It is time to have accountability for debt transparency and ensure that opaque natural resource-backed loans end, because they complicate the debt issue and the debt resolution issue," said development finance institution African Development Bank (AfDB) president Akinwumi Adesina.
