Some developing country governments spend years making the reforms that international financial institutions want – only to find that their efforts are not rewarded. They may make budgets more transparent, publish their debt obligations, set up independent bodies to monitor government spending, and complete an International Monetary Fund programme, but still receive the same ratings…
The rating agency S&P Global’s Africa Credit Rating Trends 2025 reviews the past year’s rating activities and analyses the continent’s prospects for 2026. It is an important document because it interprets underlying drivers of creditworthiness. It shapes how global investors and policymakers understand risk, opportunity and reform dynamics across the continent. But the document had…
Africa’s development finance challenge has reached a critical point. Mounting debt pressure is squeezing fiscal space. And essential needs in infrastructure, health and education remain unmet. The continent’s governments urgently need affordable access to international capital markets. Yet many continue to face borrowing costs that make development finance unviable. Sovereign credit ratings – the assessments…
How much we pay for the debt that we incur determines a great deal in our lives. This is true of countries too. In the world of sovereign debt – money raised or borrowed by governments – the cost of debt is dependent on, among other factors, how rating agencies “grade” a country. It’s a…
Reuters/Ipsos survey suggests Americans are increasingly unhappy with Trump’s handling of the economy. Published On 16 Dec 202516 Dec 2025 Click here to share on social media share2 Share A new poll suggests that the number of people in the United States who approve of the job Donald Trump is doing as president has dropped…
South Africa on Friday secured its first credit rating upgrade in nearly 20 years after S&P Global raised the country’s foreign-currency long-term sovereign rating to “BB” from “BB-“, citing stronger growth prospects, an improving fiscal outlook and reduced contingent liabilities following better performance at state power utility Eskom. National treasury has worked to arrest rising…
Reflections on Trust, Sovereignty, and Africa’s Economic Destiny When the language of numbers claims to replace the voice of the people—when trust becomes a score and sovereignty a chart—it is time to pause, breathe, and question the gaze that evaluates. The recent downgrade of Senegal by Moody’s revives an essential question: how can one believe…
One of the commitments the South African presidency of the G20 made in its policy priorities document at the beginning of 2025 was to push for fairer, more transparent sovereign credit ratings. And to address the high cost of capital caused by an illusive perception of high risk in developing economies. South Africa proposed to…
Government has welcomed Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB-” and maintain the stable outlook. According to Fitch, South Africa’s credit rating is constrained by several factors, including low real gross domestic product (GDP) growth, high poverty and inequality levels, a high and rising government debt-to-GDP ratio,…
Japan Credit Rating Agency, Ltd. (JCR) has affirmed African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook. The rating reflects JCR’s assessment of Afreximbank’s strong strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base. JCR also noted the Bank’s important role in supporting trade finance and…
