IMF: Africa’s growth strong, but debt costs a concern
IMF deputy director for Africa Catherine Pattillo during her exclusive interview with The Citizen managing editor Mpoki Thomson in Dar es Salaam recently. PHOTO | SUNDAY GEORGE
In an exclusive interview, IMF Deputy Director for Africa Catherine Pattillo talks about the rising cost of borrowing across Africa and what steps need to be taken to address it. The conversation hosted by The Citizen Managing Editor Mpoki Thomsonalso sheds light on the growing role of gold as an alternative reserve asset for central banks, and why there is a pressing need to rethink the implementation of debt-funded mega infrastructure projects.
Concerns persist that international credit rating agencies assign unfair or biased ratings to African countries, leading to higher borrowing costs and hindering development efforts. What steps is the IMF taking to address these concerns and promote more equitable assessments?
