African governments turn to complex derivatives as debt costs rise
Critics say growing use of total return swaps is piling on risks for cash-strapped countries and their creditors
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Senegal tapped €650mn of undisclosed borrowing in bid to avoid default
West African nation agreed total return swaps with AFC and FAB months after separate hidden debt scandal came to light
African economies are more resilient than ever
The continent is better positioned to weather crises, yet perceptions remain stuck in the past
What’s going on with dollar debt?
‘Swap’ trades by hedge funds have exploded recently
Developing countries swap out of dollar debt to cut borrowing costs
Sovereign borrowers are turning to lower interest rates in currencies such as the Chinese renminbi and Swiss franc
US Treasury calls in regulators for talks on private credit risks
Discussions will include American and international insurance watchdogs
Afreximbank accuses Fitch of ‘erroneous view’ over exposure to losses
African lender denies it can be drawn into debt restructurings after rating agency cites ‘higher solvency risk’