I’ll be watching the steps African governments, banks, and others take to push down the cost of capital on the continent. Although the African Union and South Africa won’t be able to use the G20 to achieve this objective under the US presidency, we will nevertheless see African governments pushing the IMF and credit ratings agencies to make more objective analyses of Africa. We will also see the African credit ratings agency come to life and African banks expand cheaper lending by clubbing together and attracting new investment from the BRICS and Gulf countries.
