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Africa Renewal

The Africa Renewal magazine examines the many issues that confront the people of Africa, its leaders and its international partners: sustainable development goals, economic reform, debt, education, health, women's empowerment, conflict and civil strife, democratization, investment, trade, regional integration and many other topics. It tracks policy debates. It provides expert analysis and on-the-spot reporting to show how those policies affect people on the ground. And, it highlights the views of policy-makers, non-governmental leaders and others actively involved in efforts to transform Africa and improve its prospects in the world today. The magazine also reports on and examines the many different aspects of the United Nations’ involvement in Africa, especially within the framework of the New Partnership for Africa’s Development (NEPAD).

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How healthy is Africa’s sovereign bond debt?

When Uganda dropped plans last year to raise money by issuing dollar-denominated debt, some experts faulted the decision and its timing as ill-advised when interest rates on global capital markets were at historic lows. By stepping back, the country resisted a trend that has gradually become a bond-selling spree in Africa, an attractive alternative for getting money on the cheap to finance crucial infrastructure with less strings attached. And Uganda did not go quietly; it warned other African countries to stay away from dollar-denominated debt because if not properly managed, it could become a major millstone when economic fortunes change.

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