Libor transition to hit EM like a ‘juggernaut’

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By Mariam Meskin
28 Nov 2019

International lenders and the Loan Market Association (LMA) are worried about emerging markets’ nonchalance towards the end of Libor in 2021. Fears are mounting that local lenders, in particular, those in Africa, will be “hit by a juggernaut” when the benchmark rate is discontinued, writes Mariam Meskin.

“We speak to lawyers and banks in certain African countries and they remain of the view that Libor will continue to exist beyond 2021,” said Amelia Slocombe, head of legal at the LMA in London. “They are not yet entertaining the idea of it being phased out. We ...

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