Lower growth and higher rates will weigh on African issuers
Moody's Talks - Emerging Markets Decoded
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What Does This All Mean for Default Expectations?
Ghana, Kenya and Egypt are probably most exposed to higher tighter financial conditions. Less pressure coming from a period of elevated borrowing costs is really for countries that have been able to better manage their debt profile. The key is fiscal consolidation that restores investor confidence ahead of upcoming debt majorities.
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