AU cautions AfCRA won’t cut Africa’s borrowing costs immediately

Mahmoud Ali Youssouf, Chairperson of the African Union Commission, has cautioned that Africa's newly launched credit rating agency will not significantly reduce borrowing costs for African countries in the near term. He argued that deeper reforms to the global financial system are needed to address the continent's cost-of-capital challenges. The agency, known as AfCRA, was recently launched.

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