The rise in international bond issuance by low-income African countries: a shit of pattern or a fashion that already fades away?
DIAL - Working Paper n°2020-03 - April 2020 - with Marc Raffinot (LeDA, DIAL) and Gregory Donnat (LeDA, DIAL)
DIAL - Working Paper n°2020-03 - April 2020 - with Marc Raffinot (LeDA, DIAL) and Gregory Donnat (LeDA, DIAL)
Abstract
Over the past 12 years, a series of low-income countries have issued Eurobonds. Is this a pattern shift, as these countries aim to change their financing structure and move away from concessional public financing to financial markets? This is a possibility, but the recent repayment problems experienced by some of these countries suggest that this wave of issuances could end gradually.
Over the past 12 years, a series of low-income countries have issued Eurobonds. Is this a pattern shift, as these countries aim to change their financing structure and move away from concessional public financing to financial markets? This is a possibility, but the recent repayment problems experienced by some of these countries suggest that this wave of issuances could end gradually.
