The African Union is protesting what it calls a mischaracterisation of the financial status of the African Export-Import (Afrexim) Bank, whose credit rating has now been downgraded.
And the African Peer Review Mechanism (APRM), a governance programme of the African Union, said the decision by Fitch to lower the grade of the bank, often known as Afreximbank, was erroneous because it miscategorised credit.
