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Will Africa's financial stability fund rise to the debt challenge? - REUTERS
NAIROBI, April 29 (Reuters) - Angola will use its chairmanship of the African Union this year to advance the creation of a continental financial stability mechanism, its finance minister said, to cushion economies from sliding into a liquidity crisis due to external debt repayments.
Here are some key aspects of the proposed African Financing Stability Mechanism (AFSM):
WHY ARE AFRICAN LEADERS CREATING THE AFSM?
With public debt soaring 170% in the past 15 years to more than $1.8 trillion, the 54-nation continent faces heightened external refinancing risks that could morph into a liquidity crisis.
