Achieving financial stability and growth in Africa
Panel discussion on how best to achieve lasting growth and stability in low-income African countries. Featuring speakers Stephany Griffith-Jones, Victor Murinde and Olu Ajakaiye.
The issuing of sovereign debt bonds by African countries has soared sharply in recent years. But this carries growing borrowing costs and risks, which are heightened by global economic uncertainty, the decline in commodity prices and volatile capital flows. Low-income countries in Africa risk their economies suffering if capital flows are reversed and/or the cost of international lending to them continues to increase, damaging long-term investment and increasing numbers of people living in poverty.
Our panel of experts discussed how capital flows could best be managed, and what lessons might be offered from previous experiences in Africa and other emerging economies. More broadly, they discussed how domestic financial systems could be structured and regulated to achieve inclusive growth and financial stability.