Africa’s capital market access is improving, and so is the appetite for Eurobonds --[Reported by Umva mag]

• Africa is increasing borrowing on global capital markets.
• Eurobonds are the preferred borrowing option for most African countries.
• The IMF advices setup of a rescue plan for African borrowers, in lure of another global crisis.

Africa capital market access is improving as the world markets start seeing a return to lower interest rates. Between 2007 and 2020, more than 20 African countries tapped into international capital markets to finance their ambitious development plans.

According to the International Monetary Fund (IMF), most of these countries opted for Eurobonds issued by global financial centres.

“Along with this access to the markets came scaled-up lending from bilateral lenders, especially China, and continued access to loans from the multilateral organizations like the IMF and World Bank,” reports Gregory Smith, author of ‘Where Credit is Due: How African Debt Can Be a Benefit, Not A Burden’.

But after a pause by big lenders such as …

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