Glossary
Sovereign default
When a state does not pay its creditors on time, or makes them accept a loss through a restructuring.
Agencies then give the ratings SD, RD or D; CC and C mean a default is close. A default is followed by a restructuring negotiated with creditors, often with the IMF.
In figures, in Africa
| Name | Value |
|---|---|
| African countries rated | 34 / 54 |
| Investment grade | 2 · Botswana, Mauritius |
| Default or close to it | 2 · Senegal, Ethiopia |