Economy and macroUpdated November 9

African Union credit-rating agency begins operations amid risk-premium complaints

The African Union launched the Africa Credit Rating Agency almost a month before the report, which describes the agency as beginning operations. Semafor calls it the union’s most concrete response yet to longstanding complaints that global rating agencies unfairly attach risk premiums. The report says those premiums are estimated to add $75 billion in interest fees each year. The agency enters a debate that continues as African sovereigns return to global debt markets at some of the world’s highest borrowing costs.

1 publisher1 report

Coverage started November 9