IMF boss cautions Kenya, others over excessive bonds issue

NAIROBI, KENYA: The International Monetary Fund (IMF) has warned African States against rushing to issue Eurobonds, saying they may face exchange rate risks and problems repaying debts.

African governments facing falling levels of foreign aid are on a borrowing spree to pay for new roads, power stations and other infrastructure, prompting concern from many analysts that this could raise debt levels and undermine growth.