re posted from SPUTNIK AFRICA
Establishment of African Credit Rating Agency Strongly Advocated on Continent, Malian Economist Says
28 Feb 2025
The establishment of the African Credit Rating Agency (ACRA) is “imperative” due to the bias of global agencies, Kenyan President William Ruto stated, addressing the session on the establishment of the ACRA on the sidelines of the 38th AU Summit in Addis Ababa in mid-February.
The decision to establish an African credit rating agency, made at the African Union level, is “good news,” as Western rating agencies are very biased towards Africa, which is demanding a review of the global financial architecture, Malian economist Modibo Mao Makalou told Sputnik Africa.
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