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Moody’s warns of credit implications for Africa as China shifts to consumption-led growth

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INDUSTRY FIGURES / FERROUS METALS / TOURISM
China's shift to consumption-led growth will have mixed credit implications for African sovereigns, flattening the trade volumes of oil and ferrous metal exporters, while benefitting other exporters and tourist destinations, Moody's Investors Service said in a report published on Tuesday. "China is now Africa's largest trading partner, with trade totalling $114-billion in 2016 that accounted for around 14% of the continent's total exports," Moody’s chief credit officer for Europe, Middle East and Africa Colin Ellis, who co-authored the report, titled ‘Sovereigns – Africa, Closer trade and investment ties with China present challenges and opportunities’, said.
 
 
 
 
 

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