Leaders of the Global South and economists have slammed credit ratings agencies for what they call “arbitrary” sovereign ratings and requirements, which raise the cost of capital for African and other emerging markets.
Speaking at the 2025 AGM of the African Export-Import Bank (Afreximbank) in Abuja, Nigeria, US economist Jeffrey Sachs said ratings agencies conduct sovereign ratings differently from company ratings, using “crude, cookie-cutter” methodologies based on “useless indicators”...
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