“We’re here in Sevilla to change course,” the UN chief told world leaders on Monday, calling on them to grasp a once-in-a-decade opportunity to close a $4 trillion financing gap facing developing countries to meet sustainable development goals – and build a better world for all. António Guterres issued his clarion call noting that sustainable…
Abuja, Nigeria — Africa’s persistent trade finance gap–now estimated at over $420 billion–poses a critical threat to the continent’s industrial ambitions, job creation, and sustainable economic transformation. But the African Export-Import Bank (Afreximbank) is proposing a comprehensive solution to close this gap and build a more sovereign, resilient, and inclusive African financial ecosystem. The Bank’s…
Eurobonds, debts owed in a foreign currency, have become a quick and attractive way for African countries to borrow money. They are behind a sharp rise in commercial borrowing as a percentage of total external debt: it has nearly doubled from 27% in 2011 to 52% in 2020. This has increased the debt vulnerability of…
