SPECIAL REPORT | How Africa’s ‘ticket’ to prosperity fuelled a debt bomb
The thinking at one point was that African countries’ ratings would improve, and their cost of borrowing decline. Instead, the push for credit ratings set these nations on a path to debt many could not afford
01 August 2024 - 16:27
In 2002, Africa seemed poised to rise. Wealthy creditor nations were wiping billions of dollars of unsustainable debt off the books of sub-Saharan countries, and global demand was surging for the commodities the region exports, supercharging hopes of a sustained economic boom...
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