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Three Economic Stories to Watch in 2023

Ones and Tooze

CHAPTER

The Risk of Crying Wolf: African Debt Crisis?

The cost of borrowing or at least refinancing African debt has doubled in the last six to nine months. They borrow it, you know, much larger at much higher rates than advanced economies. As far as I'm aware, there will be no significant African bond issue in the second half of 2022. So we're talking about a really significant increase in the cost of borrowing.

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