Sharp fall in Sub-Saharan external debt issuance
African governments might be heeding calls for caution
External debt issuance in Sub-Saharan Africa has fallen by nearly three quarters for the first half of the year, according to a new report by Refinitiv. This indicates that some of the continent’s largest economies may be heeding the warning that their dangerously high debt burdens could expose them to economic shocks.
Refinitiv, a financial markets data and infrastructure firm, published its investment banking activity report for the first half of the year, which shows external borrowing by governments fell 65% for the first six-months of 2019 versus the same period a year ago.