CABRI 7th Network Engagement with Public Debt Managers in Africa
In the early 2010s, a number of African governments took advantage of low policy rates and accommodating fiscal and monetary conditions to issue Eurobonds in the international capital markets. The high appetite for these bonds was a sign of investor confidence in African credit markets and risks. Over the next 8 to 9 years, African governments will be faced with a wall of maturities starting as early as 2024. The leading challenge for governments will be to refinance this massive Eurobond debt, which will be due for redemption while dealing with increasing contingent and other hidden liabilities at the same time.
During this network engagement, CABRI in collaboration with African Peer Review Mechanism (APRM) will explore how African governments are addressing roll-over, debt refinancing, and fiscal risks related to Eurobond issuances.