AfDB backs TCX with $25m equity stake to tackle Africa’s debt vulnerabilities – Business A.M

317 Onome Amuge The African Development Bank Group (AfDB) has approved a $25 million equity investment in The Currency Exchange Fund (TCX), a specialist institution that offers local currency hedging in emerging and frontier markets, in a move designed to curb foreign-exchange exposure that has long undermined Africa’s debt sustainability. The investment, announced recently, signals…

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