|
Africa's mounting debt crisis will worsen if US and Europe's economies improve, says IMF's Lagarde
[Quartz] Addis AbabaAddis Ababa is home to the African Union, the UN’s Economic Commission for Africa (UNECA), and is capital city for one of the continent’s fastest-growing economies. But for the duration of its 72-year history no managing director of the International Monetary Fund had ever paid visit to the Ethiopian capital. This changed on Dec. 13 when the fund’s current chief, Christine Lagarde, touched down for a three day visit, touring new industrial parks and meeting with government officials. Christine Lagarde blames... 'the man.' Another Democrat, who knew ? Lagarde met with Quartz to discuss some of the challenges facing the continent over the coming years‐including the looming threat of another African debt crisis, an alarm she first sounded back in 2014. In the past five years the continent has issued sovereign bonds to a value of $20 billion‐most of which will mature in the next few years. Quartz: Let’s start with the "dark clouds" on the horizon that you made reference to in your speech, and specifically the debt burden. How worried are you about what some have called a ticking "debt bomb"? Posted by: Besoeker 2017-12-24 |
| http://www.rantburg.com/poparticle.php?ID=504362 |