Emerging public debt challenges in sub-Saharan Africa

Maureen Were

No wp-2024-36, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Sub-Saharan Africa (SSA)'s public debt burden remains a challenge to development. Key drivers of public debt include large-scale financing of infrastructure development, adverse impact of multiple shocks including COVID-19 pandemic, maturity mismatches, and high vulnerability to exchange rate and interest rate volatility. The tight financial conditions following interest rate hikes in advanced economies have exacerbated the debt burden and heightened debt sustainability risks. Half of the SSA low-income countries are either in debt distress or at high risk of it.

Keywords: Debt sustainability; Sub-Saharan Africa; Public debt (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-afr and nep-fdg
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