African Eurobonds: why we should (not) worry?

Africa’s sovereign eurobonds passed the $100- billion milestone in end-March 2019, with more than half coming from the Sub-Saharan Africa (SSA) region excluding South Africa. With its 500 million euros ($567 million) debut eurobond of March 19, 2019, Benin has been alongside Ghana (which touted a $3 billion deal at the same date) one of the first countries from the region to tap international markets this year and the 21st country of the region to do so since 2006.

Right from the beginning of the 21st century, the region has marked an impressive economic performance thanks to favorable commodity prices and notable improvements in its countries’ macroeconomic stances at the completion of the Heavily Indebted Poor Countries (HIPC) and... (Download).

D. Cassimon