With yields on many African dollar bonds having reached ‘distressed’ levels, governments on the continent are turning to banks for funding
African nations are turning to banks to raise dollar funding as soaring inflation and worsening global risk appetite push up the cost of borrowing in hard currency to prohibitive levels.
Yields on the dollar-denominated debt of several African countries including Kenya, Nigeria and Egypt have reached distressed levels, a threshold at which the yield spread of the securities begins to approach or exceed 1,000 basis points over 10-year US treasuries. That level is regarded as an indicator that countries may struggle to repay debt should they issue dollar bonds at yields exceeding that 1,000 basis point spread...
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: What's Happening In South African News - July 25, 2022
Read more »
South Africa: Fish in a Major South African River Are Full of MicroplasticsAnalysis - We are living in the plastic age. Plastics are literally everywhere: clothes, furniture, computers, phones and more contain plastic materials. It's no wonder, then, that the food we eat, the water we drink and even the air we breathe is contaminated with microplastics.
Read more »
SaaS vs. Load Shedding: A South African Matchup - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsWe’ve come a long way since Thomas Edison and General Electric created the first substantial power grids in the 1880s. But one thing hasn’t changed much: work stops when the power goes out. South Africans have endured front-row seats to this reality as load shedding causes real damage and consequences to the economy. According to […]
Read more »
Cape Town teen to represent South Africa at Kung Fu World Cup in Turkey - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.A teenager from Goodwood in Cape Town will be the only youth representing South Africa in September at the International Kung Fu Federation World Cup in Turkey.
Read more »
Business Maverick: Stocks, US equity futures dip on recession worries: markets wrapStocks and US equity futures slipped on Monday, sapped by a dimming economic outlook that’s also cooling expectations for peak interest rates and bolstering sovereign bonds.
Read more »