How to order
IMF Publications

Related material:
Debt Relief--A Factsheet

Read about The HIPC Initiative

Working Papers in full text
2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 All


Other research-related activities and publications of the IMF can be found at IMF Research

Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile



Domestic Debt Markets in Sub-Saharan Africa

Author/Editor: Christensen, Jakob
Authorized for Distribution: March 1, 2004
Electronic Access: Free Full Text (PDF file size is 322KB)
Use the free Adobe Acrobat Reader to view this PDF file.
 
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 study discusses the role of domestic debt markets in sub-Saharan Africa (SSA) based on a new dataset covering 27 SSA countries during the 20-year period 1980-2000. The study finds that domestic debt markets in these countries are generally small, highly short-term in nature, and often have a narrow investor base. Domestic interest payments present a significant burden to the budget, despite much smaller domestic than foreign indebtedness. The use of domestic debt is also found to have significantly crowded out private sector lending. Finally, the study identifies significant differences between the size, cost, and maturity structure of domestic debt markets in HIPCs and non-HIPCs.
 
Order a print copy
Series: Working Paper No. 04/46
Subject(s): Domestic debt | Sub-Saharan Africa | Heavily indebted poor countries
Author's keyword(s): Domestic debt | sub-Saharan Africa | crowding out | debt sustainability
 
English  
    Published:   March 1, 2004        
    ISBN/ISSN:   0 / 1934-7073   Format:   Paper
    Stock No:   WPIEA0462004   Pages:   22
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
Please address any questions about this title to publications@imf.org.