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Posts published in “Day: May 26, 2016

African Countries May Fall Into Debt Trap – AfDB

[The Herald] African countries that have borrowed from international capital markets may be sliding into a debt trap as a result of rising interest rates, the African Development Bank said. Increasingly, many African countries, taking advantage of the low global interest rates, have rushed to the international capital markets by issuing bonds.Between 2006 and 2014, African nations issued $26 billion in Eurobonds. And in 2015 alone, a total of $12 billion of Eurobonds were issued.

AfDB to Invest U.S.$ 549 Million to Fight Drought

[Monitor] Lusaka -The Africa Development Bank (AfDB) has announced a $549m (Shs1.8 trillion) plan to support countries deal with drought and other effects of climate change on the continent.