Template-Type: ReDIF-Article 1.0
Author-Name: Bryan Hardy
Author-Name: Swapan-Kumar Pradhan
Author-Name: Előd Takáts
Title: International credit to Africa
Abstract: International credit to Africa has expanded quickly since the Global Financial Crisis (GFC). Three new elements have distinguished this growth from the past. First, Chinese banks emerged as key lenders on the back of the Belt and Road Initiative. Nevertheless, renminbi usage remained limited, with most international credit still denominated in dollars. Second, more African countries started to borrow internationally following the implementation of debt relief programmes. Third, international bond issuance grew rapidly amid easy financial conditions post-GFC. Beyond these developments, governments remained the dominant borrowers, even increasing their share in international credit in both loans and bonds. London continued to be a key hub from which banks lend to Africa.
Journal: BIS Quarterly Review
File-URL: https://www.bis.org/publications/international-credit-africa.pdf
File-Format: Application/pdf
File-URL: https://www.bis.org/publications/international-credit-africa
File-Format: text/html
Year: 2026
Month: September
Classification-JEL: F34, F36, G21, F31, G15
Handle: RePEc:bis:bisqtr:2609d