Liquid illusions: Who really benefits from the Liquidity and Sustainability Facility?

During the past year, the United Nations Economic Commission for Africa, in partnership with the US asset management firm PIMCO, has advocated for the establishment of a Liquidity and Sustainability Facility (LSF). The LSF has been presented as a mechanism to support countries in Africa in the aftermath of the Covid-19 pandemic. But which countries and investors really stand to benefit?

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