African sovereign debt: sorting the wheat from the chaff
While there are perceptions of heightened risk in African credit markets, investors that made a careful assessment of fundamentals, such as governments’ commitments to prudent borrowing and economic diversity, outperformed despite the Covid-19 crisis.
The severity of Covid-19’s economic effect has varied between countries in Africa, reminding investors about the wide spectrum of risk in African sovereign debt and the importance of being selective in portfolio construction...
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