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The External Debt Problem of Sub-Saharan Africa

Author

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  • Joshua Greene

    (International Monetary Fund)

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.

Suggested Citation

  • Joshua Greene, 1989. "The External Debt Problem of Sub-Saharan Africa," IMF Staff Papers, Palgrave Macmillan, vol. 36(4), pages 836-874, December.
  • Handle: RePEc:pal:imfstp:v:36:y:1989:i:4:p:836-874
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    Citations

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    Cited by:

    1. Easterly, William, 1999. "How did highly indebted poor countries become highly indebted? : reviewing two decades of debt relief," Policy Research Working Paper Series 2225, The World Bank.
    2. repec:bep:maccon:v:5:y:2005:i:1:p:1133-1133 is not listed on IDEAS
    3. Janda, Karel & Quarshie, Gregory, 2017. "Modelling Natural Resources, Oil and Economic Growth in Africa," MPRA Paper 76749, University Library of Munich, Germany.
    4. Augustin Fosu, 2010. "The External Debt-Servicing Constraint and Public-Expenditure Composition in Sub-Saharan Africa," African Development Review, 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, vol. 30(10), pages 1677-1696, October.
    6. Burnside, Craig & Fanizza, Domenico, 2001. "Hiccups for HIPCs?," WIDER Working Paper Series 099, World Institute for Development Economic Research (UNU-WIDER).
    7. Augustin Kwasi Fosu & Yoseph Getachew & Thomas H.W. Ziesemer, 2014. "Optimal Public Investment, Growth, and Consumption: Fresh Evidence from African Countries," Working Papers 201464, University of Pretoria, Department of Economics.
    8. Fosu, Augustin Kwasi & Getachew, Yoseph Yilma & Ziesemer, Thomas H.W., 2016. "Optimal Public Investment, Growth, And Consumption: Evidence From African Countries," Macroeconomic Dynamics, Cambridge University Press, vol. 20(08), pages 1957-1986, December.
    9. Irene Yackovlev & Victor Duarte Lledo & Lucie Gadenne, 2009. "Cyclical Patterns of Government Expenditures in Sub-Saharan Africa; Facts and Factors," IMF Working Papers 09/274, International Monetary Fund.
    10. Fafchamps, Marcel, 1996. "Sovereign debt, structural adjustment, and conditionality," Journal of Development Economics, Elsevier, vol. 50(2), pages 313-335, August.
    11. Fosu, Augustin Kwasi, 2007. "Fiscal Allocation for Education in Sub-Saharan Africa: Implications of the External Debt Service Constraint," World Development, Elsevier, vol. 35(4), pages 702-713, April.
    12. Janda, Karel & Quarshie, Gregory, 2017. "Natural Resources, Oil and Economic Growth in Sub-Saharan Africa," MPRA Paper 76748, University Library of Munich, Germany.
    13. Riccardo Pelizzo & Abel Kinyondo & Zim Nwokora, 2018. "Development in Africa," Working Papers 18/002, African Governance and Development Institute..
    14. Adu-Nyako, Kofi & Gottret, M. V. & Weatherspoon, D. & Seale, J. L. Jr., 1990. "Macroeconomic Linkages Among Import Demand, Food Demand and Foreign Debt for Selected Southern African Economies: An Exploratory Analysis," 1990 Symposium, Agricultural Restructuring in Southern Africa, July 24-27, 1990, Swakopmund, Namibia 183496, International Association of Agricultural Economists.
    15. Augustin Kwasi Fosu, 2008. "Implications of the External Debt-servicing Constraint for Public Health Expenditure in Sub-Saharan Africa," Oxford Development Studies, Taylor & Francis Journals, vol. 36(4), pages 363-377.
    16. repec:bpj:bejmac:v:5:y:2005:i:1:p:1133-1133 is not listed on IDEAS
    17. Zakaree S. Saheed & Ibrahim E. Sani & Blessing O. Idakwoji, 2015. "Impact of Public External Debt on Exchange Rate in Nigeria," International Finance and Banking, Macrothink Institute, vol. 2(1), pages 15-26, June.

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