Africa's return to the capital markets

This week we discuss the return of African sovereigns to the international capital markets, following an almost two-year hiatus due to tight financial conditions, debt distress concerns, and rate hikes. Côte d'Ivoire, Benin, and Kenya have started, and others are sure to follows.

In principle this is good news, but amid ongoing debt sustainability problems across the content, caution is advised, and lessons must be learned from previous missteps.