AFRICAN ECONOMICS

1
AFRICAN ECONOMICS

• Transitioning to Creditworthiness

2
The broad context of reform

• Debt Sustainability (HIPC)
• Financial Sector Reforms (FSAP ROSC)
• Governance Reforms (NEPAD)
• Trade Liberalization (AGOA and WTO)

3
The challenge of financing development

• Trade
• Project Finance
• Venture Capital and Enterprise Development

4
Sovereign Ratings in Africa

• State Department/Fitch Ratings
• UNDP/Standard and Poors

5
Currency Zone Ratings in Africa

• Common Monetary Area Members
• Central African Economic and Monetary Community
• West African Economic Union (forthcoming)

6
African Ratings

• Sovereign
• Country/Currency Zone
• Corporate
• -Private
• -Public Sector
• Transactions

7
Implications for

• Governments
• Investors
• Bankers