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The External Debt Problem of Sub-Saharan Africa

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  • Joshua Greene

    (International Monetary Fund)

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    Abstract

    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.

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    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.

    Volume (Year): 36 (1989)
    Issue (Month): 4 (December)
    Pages: 836-874

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    Handle: RePEc:pal:imfstp:v:36:y:1989:i:4:p:836-874

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    Cited by:
    1. Burnside, Craig & Fanizza, Domenico, 2001. "Hiccups for HIPCs?," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
    2. Augustin Kwasi Fosu & Yoseph Yilma Getachew & Thomas Ziesemer, 2012. "Optimal public investment, growth and consumption: evidence from African countries," Brooks World Poverty Institute Working Paper Series, BWPI, The University of Manchester 16412, BWPI, The University of Manchester.
    3. Fafchamps, Marcel, 1996. "Sovereign debt, structural adjustment, and conditionality," Journal of Development Economics, Elsevier, Elsevier, vol. 50(2), pages 313-335, August.
    4. Augustin Fosu, 2010. "The External Debt-Servicing Constraint and Public-Expenditure Composition in Sub-Saharan Africa," African Development Review, African Development Bank, African Development Bank, vol. 22(3), pages 378-393.
    5. Easterly, William, 2002. "How Did Heavily Indebted Poor Countries Become Heavily Indebted? Reviewing Two Decades of Debt Relief," World Development, Elsevier, Elsevier, vol. 30(10), pages 1677-1696, October.
    6. Irene Yackovlev & Victor Duarte Lledo & Lucie Gadenne, 2009. "Cyclical Patterns of Government Expenditures in Sub-Saharan Africa," IMF Working Papers, International Monetary Fund 09/274, International Monetary Fund.
    7. Fosu, Augustin Kwasi, 2007. "Fiscal Allocation for Education in Sub-Saharan Africa: Implications of the External Debt Service Constraint," World Development, Elsevier, Elsevier, vol. 35(4), pages 702-713, April.
    8. Easterly, William, 1999. "How did highly indebted poor countries become highly indebted? : reviewing two decades of debt relief," Policy Research Working Paper Series, The World Bank 2225, The World Bank.

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