Lagos - Nigeria, South Africa and 15 other Sub-Saharan African (SSA) countries under the Standard & Poor’s Ratings Services will borrow an equivalent of $61 billion from long-term domestic or global commercial sources in 2014.
The figure is 49% higher than what the countries took as loan in 2013, reports The Nation.
In its “Sub-Saharan African Sovereign Debt Report 2014, S and P’s said three-fifths of the total loan, which would be through bonds, will be taken by sub-Saharan Africa’s largest economies, Nigeria and South Africa.
Nigeria is expected to borrow $14 billion while South Africa will issue $22billion.
Read more at The Nation.
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