The Sub-Saharan African Debt Problem: An Update

July 1, 1992

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Joshua E. Greene The Sub-Saharan African Debt Problem: An Update, (USA: International Monetary Fund, 1992) accessed November 24, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Asset and liability management, Debt relief, Debt service, Debt service payments, External debt, Public and publicly-guaranteed external debt

Keywords: Arrears, Debt, Debt relief, Debt service, Debt service obligation, Debt service of sub-Saharan Africa, Debt service payment, Debt service payments, Debt service write-off, Debt-to-exports ratio, Fund, Public and publicly-guaranteed external debt, Sub-Saharan Africa, WP

Publication Details

Pages:

18
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1992/052
Stock No:

WPIEA0521992
ISBN:

9781451847161
ISSN:

1018-5941

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