Dr Daniel Cash

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Economic Governance

The Competition for Africa’s Credit Architecture

The Competition for Africa’s Credit Architecture

S&P Global’s acquisition of Agusto & Co. is easy to read as another corporate transaction. It is more revealing to read it as a sign that the competition over Africa’s credit architecture is entering a new phase. On 28 July 2026, S&P Global announced

Evaluative Capability: The Missing Infrastructure of Development Finance

Evaluative Capability: The Missing Infrastructure of Development Finance

The Rise of Information Infrastructure in Development Finance

The Rise of Information Infrastructure in Development Finance

On 10 July 2026, the African Development Bank and the Ivorian government launched the One-Stop Shop for Private Investment Reporting, known by its French acronym GUDIP (African Development Bank, 2026). The platform will centralise data on private investment that has, until now, sat scattered across sector-specific codes for

The Quiet Reinvention of Sovereign Creditworthiness: Why two unrelated publications reveal a broader shift in sovereign risk analysis.

The Quiet Reinvention of Sovereign Creditworthiness: Why two unrelated publications reveal a broader shift in sovereign risk analysis.

Two publications launched this summer that, combined, reveal a broader shift on how sovereign risk analysis may be developing. Moody’s issued a sector report on sovereign debt payment pause clauses, examining new proposals from the London Coalition’s Bondholder Working Group and the Center for Global Development. This came

The Missing Infrastructure of Development Finance: Aid, institutions, and the overlooked architecture of sovereign finance

The Missing Infrastructure of Development Finance: Aid, institutions, and the overlooked architecture of sovereign finance

Executive Summary The debate over UK development assistance has become dominated by a single question: how much should be spent. This essay argues that an equally important question has received far less attention: how aid should be spent if the objective is to help countries achieve more durable access to

Who Governs Development? How successive institutions came to shape the terms on which development is financed

Who Governs Development? How successive institutions came to shape the terms on which development is financed

In 2025, debt service payments exceeded public spending on education in 113 countries across the Global South, a group encompassing some 6.1 billion people (UNESCO, 2026). In sub-Saharan Africa, governments now direct on average 3.6 times more of their public resources toward creditors than toward classrooms, a

THE TWO PLANES OF JUDGEMENT: Why the African Credit Rating Agency's real test is not only methodological

THE TWO PLANES OF JUDGEMENT: Why the African Credit Rating Agency's real test is not only methodological

EXECUTIVE SUMMARY The African Credit Rating Agency (AfCRA), now moving through its establishment phase under the African Union and the African Peer Review Mechanism, has been framed almost entirely around one question: are African sovereigns underrated by the Big Three. That question is an extremely important question. Nehls and Schmidt,