Cicero
JF-Expert Member
- Jan 20, 2016
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(Bloomberg) -- Five key African economies will face debt risks over the next two years, according to the continent’s biggest bank, as an era of extraordinary pandemic-induced stimulus and relief for poor nations draws to an end.
“Debt sustainability now requires sharper focus,” Jibran Qureishi, head of African research at Standard Bank Group Ltd., said in an interview with Bloomberg News.
The Johannesburg-based lender named Ghana, Kenya, Angola, Ethiopia and Zambia as the “fragile five” of 18 countries covered in a recent report, and highlighted Uganda as among the continent’s brightest stars in 2022.
ON KENYA:
East Africa’s largest economy has accumulated debt, including a high concentration of commercial loans, meaning servicing costs now stand at 35% of foreign-exchange reserves and 43% of tax revenue, according to Standard Bank.
“Debt sustainability now requires sharper focus,” Jibran Qureishi, head of African research at Standard Bank Group Ltd., said in an interview with Bloomberg News.
The Johannesburg-based lender named Ghana, Kenya, Angola, Ethiopia and Zambia as the “fragile five” of 18 countries covered in a recent report, and highlighted Uganda as among the continent’s brightest stars in 2022.
ON KENYA:
East Africa’s largest economy has accumulated debt, including a high concentration of commercial loans, meaning servicing costs now stand at 35% of foreign-exchange reserves and 43% of tax revenue, according to Standard Bank.
