[miningmx.com] – AFRICAN countries producing commodities but with lowly rated sovereigns could be pushed by a lack of investment support into taking up sky-high bonds, said Reuters.
“There will definitely be some that choose to take on debt, because the only other option will be to cancel infrastructure projects,” said a syndicate banker. “They don’t really have any other alternatives.”
The drop in metal prices and oil – which was compounded on Tuesday after China weakened its currency by a record amount – has left some commodity exporting countries in Africa with limited options to raise necessary funding, said Reuters.
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