S&P REPORT
SA among top borrowers in Africa in 2017
SA, Angola and Nigeria are set to issue most of the government commercial debt, at $35bn, or about 82% of the total borrowing for the subcontinent
28 February 2017 - 06:42
SA, Nigeria and Angola are expected to be the main borrowers among sub-Saharan African countries in 2017 even though many sovereigns intend to slash their debt, according to an S&P Global Ratings report. Grouped together, SA, Angola and Nigeria, the region’s largest economies, are set to issue most of the government commercial debt, at $35bn, or about 82% of the total borrowing for the subcontinent. S&P, the world’s largest credit ratings agency, rates 17 sub-Saharan African countries. These 17 states are expected to borrow about $43bn from long-term lenders in 2017 — nearly two-fifths less than in 2016.
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