{"id":15979,"date":"2022-05-19T16:30:09","date_gmt":"2022-05-19T16:30:09","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/au-chair-wants-pan-african-financial-rating-agency"},"modified":"2022-05-19T16:56:49","modified_gmt":"2022-05-19T16:56:49","slug":"au-chair-wants-pan-african-financial-rating-agency","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency","title":{"rendered":"AU chair wants pan-African financial rating agency"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Gambia. <\/strong><\/span>Chairman of the African Union (AU), Macky Sall, has called for the creation of an African financial rating agency in the face of \u201csometimes very arbitrary\u201d evaluations by international agencies that exaggerate the risk of investment in Africa, which increases the cost of credit.<\/p>\n<p>Mr. Sall spoke of \u201cthe need to have a pan-African rating agency in the face of injustices, ratings that are sometimes very arbitrary\u201d, in a speech broadcast on Sunday on the private radio RFM. He had spoken the day before at the \u201cDakar 2022 Economic Conference\u201d organised by African economists on the theme \u201cAfrica as a leading partner\u201d.<\/p>\n<p>\u201cIn 2020, while all economies were suffering the effects of Covid-19, 18 of the 32 African countries rated by at least one of the major rating agencies had their ratings downgraded. This represents 56% of downgrades for African countries compared to a global average of 31% during the period,\u201d he said.<\/p>\n<p>\u201cStudies have shown that at least 20% of the rating criteria for African countries are based on rather subjective factors of a cultural or linguistic nature, unrelated to the parameters that gauge the stability of an economy,\u201d he said.<\/p>\n<p>One of the consequences is that \u201cthe perception of investment risk in Africa is still higher than the real risk. We end up paying more than we should in insurance premiums, which makes it more expensive to lend to our countries.<\/p>\n<p>African countries \u201ccontinue to pay very high-interest rates because of an unfair system of assessing investment risk in Africa,\u201d Sall also Senegal\u2019s President said. africanews<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/gambia\">Gambia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Gambia. Chairman of the African Union (AU), Macky Sall, has called for the creation of an African financial rating agency in the face of \u201csometimes very arbitrary\u201d evaluations by international agencies that exaggerate the risk of investment in Africa, which increases the cost of credit. Mr. Sall spoke of \u201cthe need to have [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":15978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[2355,2361,3148,260,6492],"class_list":["post-15979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-gambia","tag-au","tag-gambia","tag-rating-agency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AU chair wants pan-African financial rating agency - Gambia<\/title>\n<meta name=\"description\" content=\"Chairman of the African Union (AU), Macky Sall, has called for the creation of an African financial rating agency in the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AU chair wants pan-African financial rating agency\" \/>\n<meta property=\"og:description\" content=\"Chairman of the African Union (AU), Macky Sall, has called for the creation of an African financial rating agency in the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-19T16:30:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-19T16:56:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/05\/img-628676b1e7d0c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"833\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"AU chair wants pan-African financial rating agency\",\"datePublished\":\"2022-05-19T16:30:09+00:00\",\"dateModified\":\"2022-05-19T16:56:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency\"},\"wordCount\":271,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/05\/img-628676b1e7d0c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"AU\",\"Gambia\",\"rating agency\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/au-chair-wants-pan-african-financial-rating-agency\",\"name\":\"AU chair wants pan-African financial rating agency - 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