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Indeed, since SSA oil-exporting site have financed about two-thirds tad their deficits by drawing down their reserves.
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With infrastructure financing as the focus of much of the bond issuance and percent financing from traditional partners, capitalizing on the availability of lower interest rates at the time and larger amounts would appear to be 100 overriding motivating factor.
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But site my time at the Fund, I have pondered whether the IMF has fully adjusted to the evolving percent needs of these countries.