Why is the African Union planning to launch a new African credit rating agency?
The African Union plans to launch a new African credit rating agency next year in response to its concerns about what it views as unfair ratings given to African countries. The agency will generate its own evaluation of lending risks associated with African countries. It will operate within the continent, self-funding its operations, and aims to provide additional context for investors when making decisions about purchasing African bonds or extending private loans to countries. The African Union and its member nations’ leaders assert that the “big three” ratings agencies – Moody’s, Fitch, and S&P Global Ratings – do not fairly assess the lending risks associated with African countries. A study by the UN earlier had shown that subjective biases in credit ratings had cost African countries a combined US$74.5 billion. Learn Along About African Union The African Union is a continental union consisting of 55 member states located on the continent of Africa. The AU was announced in the Sirte Declaration in Sirte, Libya, on 9 September 1999, calling for the establishment of the African Union. Headquarters: Addis Ababa, Ethiopia Founded: 9 July 2002
Buy a Lemon
Contain commonly used idioms and phrases in the English language. In each case, choose the option representing the correct meaning of each of ...
Given below are the sentences with Idioms and Phrases highlighted in bold. You are required to choose the most correct meaning of the phrase from the g...
On the ball
In each question below, a sentence is given with an idiom/phrase printed in bold type. That part may contain a grammatical error. Each sentence is follo...
Select the most appropriate meaning of the highlighted idiom.
It was a Catch 22 situation for the manager.
They doubt the maid has got _____________ so they do not keep much money at home.
running around like a headless chicken
Fill in the blanks with the correct idiom.
Mark was hesitant to apply for the job since he thought it was too challenging, but his friends enc...
Select the most appropriate meaning of the given idiom.
Sitting shotgun