IMF warns of rising debt risks in Sub-Saharan Africa

Sub-Saharan African governments are increasingly turning to local banks to fund their budgets, paying higher borrowing costs at home than abroad and putting new pressure on domestic lenders, the International Monetary Fund (IMF) warned on Thursday.

In its latest Regional Economic Outlook released during the IMF and World Bank annual meetings in Washington, the Fund said the “domestic cost of capital remains elevated across the…