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The Global Ratings Agency Fitch Issued a New Note on Private Sector Debt and It’s Not Good News for Poor Countries

Poor countries, including many in Africa, are increasingly in a debt trap… not to the Chinese but private creditors. One of the world’s big three credit ratings agencies, Fitch Ratings, issued a new report on Friday that clearly states if a country seeks any kind of debt repayment suspension from a private creditor, that could be interpreted as a form of default which would result in a downgrade.

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