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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451959680
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
This paper analyzes the causes of growth of Africa’s debt burden, and discusses the factors that induced African countries to seek external loans as well as the factors affecting the supply of external financing. The paper studies the development of some measures of debt burden for different categories of African debtors, and arrives at a hypothesis regarding feasible levels of debt and debt service ratios. In a final section, the paper discusses the options for debt relief using a simulation of payments ability.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451959680
Category : Business & Economics
Languages : en
Pages : 57
Get Book
Book Description
This paper analyzes the causes of growth of Africa’s debt burden, and discusses the factors that induced African countries to seek external loans as well as the factors affecting the supply of external financing. The paper studies the development of some measures of debt burden for different categories of African debtors, and arrives at a hypothesis regarding feasible levels of debt and debt service ratios. In a final section, the paper discusses the options for debt relief using a simulation of payments ability.
Author: George C. Abbott
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
Sub-Saharan Africa is facing a debt crisis of major international significance. Not only have debt levels risen sharply, but output and exports have stagnated. Standards of living have fallen drastically, and in many cases have been reduced to the level of the early 1960s. This important book argues that it is impossible for Sub-Saharan African countries to resolve the debt crisis without outside assistance. The conventional methods of debt consolidation are inappropriate and of limited use in their case. The SSA countries need to undertake major structural reforms if they are to get out of debt and achieve long term sustainable growth and development. The book provides an integrated debt-development strategy for achieving both these goals. Debt Relief and Sustainable Development in Sub-Saharan Africamakes a significant contribution to an important but hitherto relatively neglected area of the international debt crisis. It will be essential reading for development economists as well as all those with an interest in contemporary Africa.
Author: Milton A. Iyoha
Publisher:
ISBN:
Category : Africa, Sub-Saharan
Languages : en
Pages : 76
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Book Description
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Debt relief
Languages : en
Pages : 48
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451921020
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
The massive external debt burden of Sub-Saharan Africa has gained widespread attention as a serious policy issue during the past few years. This paper reviews recent trends in the debt levels and economic performance of Sub-Saharan countries and assesses a number of proposals for reducing their external debt service obligations. There is also a discussion of the modalities of various debt relief proposals that have been advanced.
Author: Percy S. Mistry
Publisher:
ISBN:
Category : Africa, Sub-Saharan
Languages : en
Pages : 76
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Book Description
Author: Siddig A. Salih
Publisher:
ISBN:
Category : Africa
Languages : en
Pages : 58
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Book Description
Author: E. Wayne Nafziger
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 320
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Book Description
Since the 1970s, African nations have faced chronic economic stagnation, increased poverty, debt and growing inequality among the classes. This book examines attempts to alleviate these problems by such bodies as the World Bank and the International Monetary Fund (IMF), to name a few.
Author: S. M. Ravi Kanbur
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages :
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Book Description
June 1996 A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
Author: All Party Parliamentary Group on Overseas Development
Publisher:
ISBN:
Category : Africa
Languages : en
Pages : 88
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Book Description
Measures of Debt Relief
