The Sub-Saharan African Debt Problem: An Update

Joshua Greene

No 1992/052, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; arrears; debt service obligation; fund; debt; debt service payment; debt service of sub-Saharan Africa; debt service write-off; debt-to-exports ratio; Debt service; Debt service payments; Debt relief; Public and publicly-guaranteed external debt; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 18
Date: 1992-07-01
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