Economy and macroUpdated November 9

Africa’s new credit-rating agency begins operations.

The Africa Credit Rating Agency has begun operations as the African Union’s response to longstanding complaints about global rating agencies’ risk premiums on African debt. Those premiums are estimated to add $75 billion a year in interest fees. The new agency arrives as those complaints continue to shape the debate over what African borrowers pay.

1 publisher1 report

Coverage started November 9