Ratings Company to Serve Africa Set to Be Ready by Next Year

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Albert Muchanga,Credit Ratings,African Union

(Bloomberg) -- A credit ratings company being established to meet the unique needs of Africa’s sovereign borrowers is set to be ready by next year, an...

-- A credit ratings company being established to meet the unique needs of Africa’s sovereign borrowers is set to be ready by next year, an African Union official said Saturday.Biden Plots to Salvage Campaign Many Allies Believe Is Over

The task is being undertaken by the African Peer Review Mechanism, African Development Bank, African Export-Import Bank and the AU Commission, Muchanga said. The project is at its next phase of operationalization that entails “coming up with the final work plan to ensure that we are able to roll it out,” he said.The Bank of Canada will cut its overnight interest rate on Wednesday by 25 basis points to 4.

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