The issuance of Eurobonds has soared in the wake of the global financial crisis, as many Sub-Saharan countries tapped the international bond market for the first time. The opportunity that Eurobonds imply for funding development efforts in Africa is immense, but their use must be carefully managed.
WASHINGTON, DC – Over the last decade, Africa’s governments have increasingly come to rely on Eurobonds to finance their budgetary priorities. Issuance of these securities – which are denominated in foreign currencies – soared in the wake of the global financial crisis, as many Sub-Saharan countries tapped the international bond market for the first time. The opportunity that Eurobonds imply for ensuring adequate funding for development efforts in Africa is immense, but this potential can be realized only if their use is carefully managed.
WASHINGTON, DC – Over the last decade, Africa’s governments have increasingly come to rely on Eurobonds to finance their budgetary priorities. Issuance of these securities – which are denominated in foreign currencies – soared in the wake of the global financial crisis, as many Sub-Saharan countries tapped the international bond market for the first time. The opportunity that Eurobonds imply for ensuring adequate funding for development efforts in Africa is immense, but this potential can be realized only if their use is carefully managed.