UN Agency is Upset With Moody’s After the Firm Took Action Against Four African Countries

AFP

The United Nations’ Department of Economic and Social Affairs is disappointed with Moody’s Investors Services after the global ratings agency put four African countries up for review following their decision to join the G20’s debt service suspension initiative (DSSI), according to a report in the Financial Times.

Moody’s took action this week against Ethiopia, Cameroon, Senegal and the Ivory Coast (Pakistan as well) by re-evaluating their current “stable outlook” rating. The firm said it’s concerned that by suspending debt service payments, private creditors could be adversely impacted.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
China, U.S. Ink Rare Earth Deal; More Trade Pacts Coming
4
Indonesia Begins $5.9 Billion Chinese EV Battery Project Despite Environment Fears
5
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
6
Six Million Donkeys Slaughtered for Chinese Medicine: Charity

You Might Like

Latest World Bank Debt Report Prompts Renewed Concern About Kenya, Ethiopia

Journalists and analyst have been poring through the World Bank’s latest report on global debt that was published last month. Two African countries in particular, Kenya and Ethiopia, stand ...

Cyril Ramaphosa Renews Calls For Urgent Debt Relief for Africa. But is Anyone Listening?

South African President and Chair of the African Union Cyril Ramaphosa issued yet another urgent appeal for the international community to provide immediate debt relief for Africa. “Urgent and collective action is needed ...

G20 Suspends Debt Repayments For Another Six Months

The G20 is providing developing countries with yet more breathing room to repay their debts. G20 finance ministers and central bank chiefs met yesterday and announced that it would extend ...

China Denies Ethiopian Media Report It’s Providing Addis Ababa With “Alternative Means” of Debt Relief

The Chinese Ministry of Foreign Affairs flatly denied a report published in the English-language Ethiopian news site The Reporter that “China agreed to restructure Ethiopia’s debt through alternative means.” Ethiopia is the second-largest ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP