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Tightening global financial conditions as a result of policy rate increases in advanced economies, coupled with the war in Ukraine, are pushing up sovereign spreads in African countries, reflecting fears about their debt sustainability, said World Bank chief economist Albert Zeufack.

The risks could mount if global inflationary pressures continue amid the multiple shocks facing the world economy, and if the Federal Reserve Bank hikes policy rates more aggressively than anticipated, he added...

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