By BUUMBA CHIMBULUTHE International Monetary Fund (IMF) has called for the relaxation of external financial conditions for Sub-Saharan Africa to access hard currency bond markets.Hard currency is money that comes from a country with a strong government and economy and that is not likely to lose its value.IMF Division Chief Research Department, Malhar Shyam Nabar, expressed concern that the conditions had been extremely tight for Sub-Saharan Africa over the past several months.Mr Nabar said a turnaround in conditions and better access for Sub-Saharan African issuers to access external hard currency bond markets would certainly help with improving the outlook.“In terms of what the global outlook means for Sub-Saharan Africa, of course, the partial recovery that we are projecting next year clearly has a beneficial impact for the outlook in terms of stronger external demand.“But one key element really is that the external financial conditions, which have been extremely tight for Sub-Saharan Africa over the past […]
IMF wants relaxed conditions for Africa
