The Kiel Institute for the World Economy published in April 2023 a paper titled "Who Lends to Africa and How? Introducing the Africa Debt Database" by David Mihalyi and Christoph Trebesch.
The African debt boom was mainly driven by large sovereign bond issuances in London and New York, as well as growing lending by Chinese state-owned banks. The average interest rate for multilateral lenders was 1 percent, for bilateral lenders other than China 1.3 percent, for Chinese lenders 3.2 percent, and for private sector lenders (sovereign bonds) 6.2 percent.
