国际货币基金组织警告撒哈拉以南非洲债务风险上升

Core Insights - The International Monetary Fund (IMF) warns that governments in Sub-Saharan Africa are increasingly turning to local banks for budget financing, leading to higher domestic borrowing costs compared to foreign borrowing [1] - The region's domestic capital costs remain high, with many local financial markets being underdeveloped, fragmented, and lacking liquidity, resulting in high transaction costs and loan spreads [1] - The reliance on local banks for financing is causing rising costs and squeezing private sector investment, as domestic government debt held by local banks is growing faster than in other regions [1] - The IMF highlights a potential vicious cycle where strained public finances could undermine bank stability, further tightening credit and exacerbating fiscal pressures [1] - Due to high borrowing costs and economic uncertainty, African nations have been largely excluded from global capital markets, although some have cautiously returned to the international bond market since 2024 [1] - Many countries remain concerned about falling back into debt traps despite the cautious re-entry into international markets [1]