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Africas External Debt
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Book Synopsis Africa's Odious Debts by : Léonce Ndikumana
Download or read book Africa's Odious Debts written by Léonce Ndikumana and published by Bloomsbury Publishing. This book was released on 2011-10-13 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa's foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these 'odious debts' from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.
Download or read book Africa's External Debt written by and published by African Forum & Network. This book was released on 2003 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The External Debt Problem of Sub-Saharan Africa by : International Monetary Fund
Download or read book The External Debt Problem of Sub-Saharan Africa written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-03-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa by : Mr.Simeon Inidayo Ajayi
Download or read book An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa written by Mr.Simeon Inidayo Ajayi and published by International Monetary Fund. This book was released on 1997-06-01 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.
Book Synopsis Sub-Saharan Africa's External Debt Crisis: An exposition of the origins and causal factors by : M. S. Mukras
Download or read book Sub-Saharan Africa's External Debt Crisis: An exposition of the origins and causal factors written by M. S. Mukras and published by . This book was released on 2001 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis External Debt and Capital Flight in Sub-Saharan Africa by : Mr.Mohsin S. Khan
Download or read book External Debt and Capital Flight in Sub-Saharan Africa written by Mr.Mohsin S. Khan and published by International Monetary Fund. This book was released on 2000-05-12 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mounting external debt and large-scale capital flight have been at the forefront of Africa's economic problems since the 1980s. External Debt and Capital Flight in Sub-Saharan Africa, edited by S. Ibi Ajayi and Mohsin S. Khan, takes a penetrating look at debt and capital flight during the 1990s in Ghana, Kenya, Nigeria, Tanzania, and Uganda. The book describes the size and composition of debt in the selected countries and examines the causes of the debt buildup. It also assesses the extent of capital flight and suggests ways of stemming the flight of financial resources.
Book Synopsis Sub-Saharan Africa's External Debt Crisis: The dimension of economic decline by : M. S. Mukras
Download or read book Sub-Saharan Africa's External Debt Crisis: The dimension of economic decline written by M. S. Mukras and published by . This book was released on 2001 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The African Debt Crisis by : Trevor W. Parfitt
Download or read book The African Debt Crisis written by Trevor W. Parfitt and published by Routledge. This book was released on 2010-11-26 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing both the macro- and micro-economic levels of the contemporary African Debt Crisis, this book, first published in 1989, begins by looking at the origins of the world debt crisis, and then looks closely at the problem as it affects Sub-Saharan Africa. The effects of debt on Africa’s position in international relations are considered, and the roles played by organisations such as the International Monetary Fund and the World Bank are assessed. The authors also examine the local effects in a series of case studies of various states including Nigeria, Ghana and Sierra Leone, the Francophone States and Zaire.
Book Synopsis Sub-Saharan Africa's External Debt Crisis: An assessment of the burden of external debt by : M. S. Mukras
Download or read book Sub-Saharan Africa's External Debt Crisis: An assessment of the burden of external debt written by M. S. Mukras and published by . This book was released on 2001 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Sustainability of African Debt by : Daniel Cohen
Download or read book The Sustainability of African Debt written by Daniel Cohen and published by World Bank Publications. This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: July 1996 The role of debt forgiveness is to alleviate what is known as debt overhang. This concept is the core idea of the Brady deals, and it now comes to the African debt crisis. How can one gauge the hypothesis of the debt overhang? To what extent can one attribute the growth slowdown of the 1990s to the debt crisis of the 1980s? Using data from the past decade, the author finds that debt variables play a significant role in that slowdown. In one exercise, he finds that more than half the growth slowdown of the large debtor countries in the 1980s could be attributed to the debt crisis. To what reasonable debt ratio should African debt be written down? Most exercises set the threshold of sustainability of debt at about 200 percent. The easiest way to rationalize such a threshold is first to measure the average value of debt-to-export ratios reached at the time of the first rescheduling of debt in a given country. Using Latin America as a benchmark, one finds an average threshold of 248 percent. However short-sighted such a ratio might be, it goes a long way toward rationalizing the view that a debt-to-export ratio between 200 and 300 percent is a strong signal of a forthcoming crisis. This naive approach takes no account of the changing environment (growth and interest rates) a country must confront. A more subtle approach should allow for the prospect of a country's growth to assess the sustainability of the debt it inherits. With the author's formula for so doing, Africa's debt-to-export ratio should be brought to 198 percent. Another way to assess the sustainability of debt is to look at the secondary market, which allows one to estimate the prospect of repayment expected by market participants. Few African debts are actually quoted on secondary markets, but the author presents a formula for reconstructing estimates of repayment prospects econometrically. By that method, Africa's debt-to-export ratio should be 210 percent, suggesting that a threshold between 200 and 250 percent is about right.
Book Synopsis External Assistance and Policies for Growth in Africa by : Mrs.Claire Liuksila
Download or read book External Assistance and Policies for Growth in Africa written by Mrs.Claire Liuksila and published by International Monetary Fund. This book was released on 1995-12-15 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet is a collection of papers presented at a seminar on policies for growth in Africa, held in Paris in February 1995 and sponsored by the Ministry of Finance of Japan. The seminar focused on four broad themes: how to enable the private sector to play a lead role in the growth process in Africa; how to boost domestic savings and help the financial sector to contribute to the mobilization and efficient us of resources; how to facilitate foreign aid and make it more effective; and, what are the essential elements of sound debt management practices?
Book Synopsis The IMF, the World Bank, and the African Debt: The social and political impact by : Bade Onimode
Download or read book The IMF, the World Bank, and the African Debt: The social and political impact written by Bade Onimode and published by . This book was released on 1989 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: V. 1. The economic impact -- v. 2. The social and political impact.
Book Synopsis The African Debt Crisis by : Gabriel Olakunle Olusanya
Download or read book The African Debt Crisis written by Gabriel Olakunle Olusanya and published by . This book was released on 1989 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis External Debt and Economic Growth in Sub-Saharan African Countries by : Milton A. Iyoha
Download or read book External Debt and Economic Growth in Sub-Saharan African Countries written by Milton A. Iyoha and published by . This book was released on 1999 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Sub-Saharan African Debt Problem by : Mr.Joshua E. Greene
Download or read book The Sub-Saharan African Debt Problem written by Mr.Joshua E. Greene and published by International Monetary Fund. This book was released on 1992-07-01 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides updated information on the external debt problem of sub-Saharan Africa. Between 1980 and 1990 the region’s external debt more than tripled, to US$171 billion, while debt service payments and rescheduling rose by more than 150 percent to US$20 billion. In addition, the region continues to qualify as severely debt-distressed. During the last few years the region has benefitted from several new debt initiatives, including a substantial increase in debt cancellation by bilateral creditors and the general application of Toronto terms for debt rescheduling. There are also proposals for further debt assistance, including more liberal rescheduling terms, broader debt forgiveness, and consolidating debt relief and aid generation activities.
Book Synopsis Africa's External Debt by : Yesufu Seyyid Abdulai
Download or read book Africa's External Debt written by Yesufu Seyyid Abdulai and published by . This book was released on 1990 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Where Credit is Due by : Gregory Smith
Download or read book Where Credit is Due written by Gregory Smith and published by Oxford University Press. This book was released on 2021-12-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.
