The Sub-Saharan African Debt Problem: An Update
July 1, 1992
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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
Pages:
18
Volume:
1992
DOI:
Issue:
052
Series:
Working Paper No. 1992/052
Stock No:
WPIEA0521992
ISBN:
9781451847161
ISSN:
1018-5941
