Fed taper could hit African sovereign credits hard, World Bank warns
Cross-continent trade agreement could help provide bigger markets
Weak global commodity prices could leave some emerging and frontier markets – particularly in sub-Saharan Africa – exposed if and when the Federal Reserve starts raising interest rates, the World Bank warned on June 10, on the same day as 26 African states agreed to set up a new free trade area stretching from Cairo to Cape Town.
"With an expected liftoff in US interest rates, borrowing will become more expensive for emerging and developing economies over the coming months", said the World Bank
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