Latest news with #MoIbrahimFoundation
TimesLIVE
2 days ago
- Business
- TimesLIVE
Local debt markets could shield Africa as funding sources shrink, Moody's says
African countries should focus on developing liquid local debt markets in their home currencies to protect them from global volatility and fickle foreign investors, said Moody's global head of sovereign and subsovereign risk, Marie Diron. Credit ratings for some countries on the continent have begun climbing after a rough cycle of cuts and outlook downgrades spurred by the stress the Covid-19 pandemic put on sovereign balance sheets. However, as trade wars and geopolitical risks roil global markets, the countries that are faring the best, such as Benin and Ivory Coast, are the ones that have beefed up local funding, Diron said. 'Domestic funding, I think that has to bridge that gap,' she told Reuters in an interview on the sidelines of an event by the Mo Ibrahim Foundation in Marrakesh, Morocco. Diron said deep and liquid domestic debt markets had in part shielded SA's rating, and borrowing costs, from the turmoil of US President Donald Trump's adversarial approach to President Cyril Ramaphosa's government. Using revenue efficiently, lowering exposure to foreign currency debt and lengthening maturities were also key factors supporting African countries' credit ratings and market access, she said.
Maroc
4 days ago
- Business
- Maroc
'Ibrahim Governance Weekend' (IGW 2025) Forum Kicks Off in Marrakech
The "Ibrahim Governance Weekend" (IGW 2025) Forum kicked off on Sunday 01 June in Marrakech, under the High Patronage of His Majesty King Mohammed VI, with the participation of a distinguished group of prominent figures from the worlds of politics, economics, and civil society. The participants gathered to discuss the theme of financing Africa's development. The opening ceremony of this event was marked by a message from His Majesty King Mohammed VI to the participants, which was read by HM the King's Advisor, André Azoulay. This flagship event of the Mo Ibrahim Foundation, held annually in a different African country, highlights the critical role of Africa's resources in accelerating development and transforming the continent's position in the new global economy. The program of this year's edition, which runs until June 3, features an opening day focused on current leadership challenges in Africa and worldwide, in addition to the Ibrahim Forum 2025, held under the theme "Financing the Africa We Want." The Forum includes plenary sessions on Africa's priorities, resource mobilization, reform of the multilateral financial system, and investment across the continent. These discussions aim to contribute to shaping a strong African stance ahead of the 4th International Conference on Financing for Development, scheduled from July 1 to 3 in Seville, Spain, and to highlight Africa's ability to play an active role in this area rather than remaining a mere passive beneficiary. A comprehensive report will be published following the IGW Forum, complementing the preliminary "Facts & Figures" document with the key conclusions from these three days of discussions. Established in 2006, the Mo Ibrahim Foundation aims to strengthen Africa's voice on major global issues and emphasizes the importance of governance and leadership. The Foundation provides data and analysis on the continent's challenges, brings together key stakeholders for dialogue, and supports initiatives aimed at improving leadership and governance. (MAP: 01 June 2025)
