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Sovereignty decision opens way for US project funding in Western Sahara

Renewable power project developers could be among the main beneficiaries of outgoing US President Donald Trump’s recognition of Moroccan sovereignty over the disputed Western Sahara, providing Washington uses the decision to unlock concessionary funding. However, many investors will remain wary of piling funds into oil and other projects while the UN-led decolonisation process remains in limbo, writes John Hamilton.

Issue 429 - 17 December 2020

PinWestern Sahara (under UN mandate)

PinPower, Finance, Politics, Renewables

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Zambian default presages wider debt issues

The Zambian government’s refusal to make a $42.5m interest payment by its 13 November deadline – thereby triggering a sovereign debt default – was hardly a surprise. The investor appetite that persuaded lenders to pile into $3bn-worth of Eurobonds has waned on President Edgar Lungu’s watch, while Covid-19 and falling commodity prices have affected sub-Saharan Africa as a whole. The International Monetary Fund (IMF) predicts the region’s economy will contract by 3% in 2020 and its forecast 3.1% growth in 2021 will be “a smaller expansion than expected in much of the rest of the world”.

Issue 428 - 03 December 2020

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