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Home > Africa: EU banks refuse loans to firms doing business with Africa

Contributor [1]
Wednesday, November 30, 2011 - 02:00
Categories: 
Development [2]
Issue Number: 
560 [3]
Article-Summary: 

Some European banks are now refusing to lend to firms trading with Africa, threatening growth in the world's poorest continent, a senior official of the African Development Bank (AfDB) said on Tuesday. The reluctance of some banks to make Africa-related loans as Europe's own debt crisis turns them increasingly risk-averse is an ominous sign as it repeats one aspect of the 2008 credit crisis.

Category: 
Global South [4]
Oldurl: 
http://www.pambazuka.org/en/category.php/development/78358 [5]

Source URL: https://www.pambazuka.org/node/76281

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[5] http://www.pambazuka.org/en/category.php/development/78358