Mmastodon BusinessFinance first seen 1 d ago, last 16 h ago, peak #3
Africa launches its own credit rating agency, the AfCRA
Original: Afrique. L'Afrique a sa propre agence de notation : l'AfCRA, lancée le 7 octobre à Port-Louis. Agence indépendante, priv
Africa has launched its own credit rating agency, the AfCRA, officially inaugurated on 7 October in Port-Louis, Mauritius. The agency is independent, private and self-financed, with African states barred from holding shares in its capital. The initiative responds to mounting external debt costs: interest payments on African external debt have surged from 61 to 163 billion dollars, a burden critics link partly to ratings issued by the three dominant Western agencies. Supporters see it as a step toward financial sovereignty for the continent.
Why now: The launch of an African-owned rating agency challenges the dominance of Western agencies over the continent's borrowing costs.
AfCRAPort-LouisMauritiusAfrica
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- Afrique. L'Afrique a sa propre agence de notation : l'AfCRA, lancée le 7 octobre à Port-Louis. Agence indépendante, privée, autofinancée : les États ne peuvent pas en détenir le capital. L'enjeu est chiffré : le service de la dette extérieure est passé de 61 à 163 milliards de… · theatlanticpost@epsilon.social · 3
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