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Africa’s newfound love with creditors: Bond bubble in the making?
I know it is increasingly becoming not kosher to put a damper on the Africa Rising narrative (these guys missed the memo, H/T Vanessa) but here is a much needed caution from Joe Stiglitz and Hamid...
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Is Nigeria’s Economy Overrated?
Here is Izabella Kaminska of the FT: Source: Financial Times On the surface, Nigeria’s oil sector has dropped in significance to a mere 13% of real GDP, while the services sector has climbed to 40% in...
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Africa’s looming debt crises
The 1980s are calling. According to Bloomberg: Zambia’s kwacha fell the most on record after Moody’s Investors Service cut the credit rating of Africa’s second-biggest copper producer, a move the...
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How Kshs. 38.5 billion ($385m) of borrowed money “disappeared” from Kenya’s...
Jason Lakin writes in the East African: … the June 2013/14 bond issues were moved to the 2014/15 opening balances carried forward from 2013/14 at that time, while the November bond issues were...
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Mozambique may have squandered up to $2b of borrowed money
Public Finance is emerging to be one of the biggest development challenges of our age. Here’s Africa Confidential on Mozambique’s hidden loans, which may amount to more than $2b. Sources close to...
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Is there such a thing as predatory sovereign lending?
The Wall Street Journal has a great story on Mozambique’s stolen hidden debt scandal: The government picked Mr. Safa’s company, Privinvest, to supply ships, including patrol and surveillance vessels,...
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