Gregory Smith, emerging markets fund manager at M&G Investments, speaks to Burhan Khadbai, head of content at OMFIF’s Sovereign Debt Institute, about the refinancing risks that African sovereigns are facing with a wall of bonds set to mature over the next few years.
Smith talks about where the risks are most concentrated and the difficulty many African sovereigns with low credit ratings will face in accessing the markets. He also talks about the debt restructuring talks in Ghana and Zambia and the role of debt-for-nature swaps as a way of reducing high debt burdens and boosting investment in environmental conservation.
