How to build a resilient housing finance ecosystem through local currency financing?

This article discusses foreign currency mortgages and their adverse impacts on African countries' consumer protection laws. The main objective is to raise awareness among all key housing finance stakeholders to grasp the challenges posed by foreign-denominated mortgages (FDM) to the African States already in a weak monetary and economic position. Second, to stress the need to finance and develop cutting-edge research to offer disaggregated data on foreign currency loans and provide an in-depth understanding of key concerns around FDMs' designing and underwriting. Also, to critically assess FDMs and their risks on borrower's protection in the African States. Finally, this article should offer some recommendations to prevent a further crisis that might erupt from a possible overreliance on FDM.

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