Economics
Foreign Lenders Are Making a Killing From Africa, AfDB Says
- Short-term maturity of some bonds is a problem, Adesina says
- Investors making a ‘killing’ off African bonds, president says
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African governments need to be tougher when negotiating the terms of Eurobonds and commercial loans, the African Development Bank said.
Some external debts mature before the infrastructure projects they fund start generating returns, which raises refinancing risks, the president of the development-finance lender warned. Neither should African borrowers be “price takers,” he said.