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WEST AFRICA

African bankers Thiam, Kaberuka, Onkojo-Iwelea reinvent themselves as debt reduction crusaders

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“Debt diplomacy”

AFRICA

Debt diplomacy

Because the fight to contain it has involved the use of public funds, the Covid-19 pandemic has led to an explosion of debt throughout Africa, forcing countries to seek a moratorium from the G20 and bring in consultants to help them negotiate with their sovereign, private sector and institutional creditors. In the West, the growth of African countries' debt has led to fierce competition between private and public sector creditors to obtain repayment of their debts. China is also involved but has shown little inclination so far to reschedule African countries' debts. [...]

In a response to the Covid-19 pandemic, a small group of financiers are lobbying intensely to get holders of African eurobonds to postpone their redemption dates for two years. The campaign is as advantageous for those waging it, however, as it is for its potential beneficiaries. [...] (655 words)

Issue dated 16/04/2020 Reading time 3 minutes

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Finance Politics

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African Development Bank
Alassane Ouattara
Amadou Gon Coulibably
BNETD
Crédit suisse
Donald Kaberuka
Henri Konan Bédié
International Monetary Fund
Ken Ofori Atta
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Southbridge
Standard Chartered Bank
Tidjane Thiam
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United Nations Economic Commission for Africa
Vera Songwe
World Bank

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Ivorian President Alassane Ouattara and financier Tidjane Thiam. © Denis Balibouse/Reuters/Legnan Koula/EPA/MaxPPP

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Tidjane Thiam, former head of Crédit Suisse. © Ennio Leanza/EPA/Newscom/MaxPPP

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Former Prime Minister of Mozambique Luísa Diogo. © Alessandro della Bella/EFE/Newscom/MaxPPP

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Spotlight

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Former Credit Suisse head Tidjane Thiam tests his presidential credentials

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AFRICA Finance Politics 25/03/2020

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African Development Bank
Alassane Ouattara
Amadou Gon Coulibably
BNETD
Crédit suisse
Donald Kaberuka
Henri Konan Bédié
International Monetary Fund
Ken Ofori Atta
Laurent Gbagbo
Lionel Zinsou
Marcel Amon Tanoh
Ngozi Okonjo-Iweala
Southbridge
Standard Chartered Bank
Tidjane Thiam
Tito Mboweni
United Nations Economic Commission for Africa
Vera Songwe
World Bank

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From Abidjan to Doha: the secret missions of former minister Djibrill Bassolé

Eskom's fate caught up in the clash between Ramaphosa and Mantashe

African bankers Thiam, Kaberuka, Onkojo-Iwelea reinvent themselves as debt reduction crusaders

Debt diplomacy

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

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create a free account

Receive free prompts for these topics

Secret conversations between Alassane Ouattara and Tidjane Thiam

Ex-Crédit Suisse boss Tidjane Thiam ponders publishing his story

Tidjane Thiam joins Macron's Kigali delegation

Tunis tries to defuse its debt bomb to avoid going into default

Luísa Diogo is ace up Nyusi's sleeve to negotiate with Paris Club

Candidates queue up for top IFC job

Jim Chu seeks Africa's next top investor with The Nest

French government reshuffle: Presidential Council for Africa pleaded for the appointment of 'African' ministers

Governments seek guidance on hidden pitfalls of G20 debt moratorium

Presidential election: Tidjane Thiam prepares to return to Abidjan in a back seat role

Russian oligarch Mikhail Prokhorov appoints right-hand man to head RenCap

Ali Hassan Khaire searches desperately for fresh funds

Government's favourite banker Youssouf Fadiga to manage FCFA 520bn Covid-19 allocation

Former Credit Suisse head Tidjane Thiam tests his presidential credentials

The UN's closed-door briefing on the economic impact of COVID-19

Thierry Tanoh still weighing his options

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African bankers Thiam, Kaberuka, Onkojo-Iwelea reinvent themselves as debt reduction crusaders

Debt diplomacy

This article may be accessed by subscribers and e-wallet holders (USD 12.50)

2 options offered to continue reading

Create your free account

create a free account

Receive free prompts for these topics

Secret conversations between Alassane Ouattara and Tidjane Thiam

Ex-Crédit Suisse boss Tidjane Thiam ponders publishing his story

Tidjane Thiam joins Macron's Kigali delegation

Tunis tries to defuse its debt bomb to avoid going into default

Luísa Diogo is ace up Nyusi's sleeve to negotiate with Paris Club

Candidates queue up for top IFC job

Jim Chu seeks Africa's next top investor with The Nest

French government reshuffle: Presidential Council for Africa pleaded for the appointment of 'African' ministers

Governments seek guidance on hidden pitfalls of G20 debt moratorium

Presidential election: Tidjane Thiam prepares to return to Abidjan in a back seat role

Russian oligarch Mikhail Prokhorov appoints right-hand man to head RenCap

Ali Hassan Khaire searches desperately for fresh funds

Government's favourite banker Youssouf Fadiga to manage FCFA 520bn Covid-19 allocation

Former Credit Suisse head Tidjane Thiam tests his presidential credentials

The UN's closed-door briefing on the economic impact of COVID-19

Thierry Tanoh still weighing his options

Receive free prompts for these topics

First visit

Contacts

Tools

Follow us

A website produced by

Indigo Publications also publishes: