Africa needs its own ‘repo’ market

“Many African countries face a vicious cycle: lack of market access due to rising spreads at a time when they need it most and consequently weaker investment and growth potential — in some cases the ugly spectre of downgrades, defaults and debt restructuring may follow. An SPV funded by a major central bank could help break this pernicious pattern and create a virtuous circle for countries with sustainable macroeconomic fundamentals.”

via Financial Times