Public Debt Sustainability in Africa: Building Resilience and Challenges Ahead
Mthuli Ncube () and
Zuzana Brixiová ()
Development Policy Review, 2015, vol. 33, issue 5, 555-580
type="main" xml:id="dpr12126-abs-0001"> The increased access of African countries to international capital markets has put public debt sustainability at the forefront of the continent's policy agenda. Utilising the ‘stabilising primary-balance’ approach, this article finds that the actual primary balances exceeded those required to keep public debt at the 2007 level in about half the countries studied, and in several cases, those needed to reduce public debt-to-GDP to sustainable thresholds. The interest rate-growth differential (IRGD) drove sustainability, underscoring the importance of growth and borrowing for growth-enhancing outlays. As the IRGDs are likely to narrow over the longer term, fiscal policies will need to play a greater role.
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
Working Paper: Public Debt Sustainability in Africa: Building Resilience and Challenges Ahead (2015)
Working Paper: Public Debt Sustainability in Africa: Building Resilience and Challenges Ahead (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:devpol:v:33:y:2015:i:5:p:555-580
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0950-6764
Access Statistics for this article
Development Policy Review is currently edited by David Booth
More articles in Development Policy Review from Overseas Development Institute Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().