An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa
An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa

Author: Mr.Simeon Inidayo Ajayi

Publisher: International Monetary Fund

Published: 1997-06-01

Total Pages: 63

ISBN-13: 1451961111

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The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.

An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa
An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa

Author: S. Ibi Ajayi

Publisher:

Published: 2003

Total Pages: 0

ISBN-13:

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The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.

External Debt and Capital Flight in Sub-Saharan Africa
External Debt and Capital Flight in Sub-Saharan Africa

Author: Mr.Mohsin S. Khan

Publisher: International Monetary Fund

Published: 2000-05-12

Total Pages: 336

ISBN-13: 9781557757913

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Mounting external debt and large-scale capital flight have been at the forefront of Africa's economic problems since the 1980s. External Debt and Capital Flight in Sub-Saharan Africa, edited by S. Ibi Ajayi and Mohsin S. Khan, takes a penetrating look at debt and capital flight during the 1990s in Ghana, Kenya, Nigeria, Tanzania, and Uganda. The book describes the size and composition of debt in the selected countries and examines the causes of the debt buildup. It also assesses the extent of capital flight and suggests ways of stemming the flight of financial resources.

External Finance for Low-income Countries
External Finance for Low-income Countries

Author: IMF Institute

Publisher: Fonds Monetaire International

Published: 1997

Total Pages: 266

ISBN-13:

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La conferencia se enfoco en el impacto de la deuda externa en paises de bajo ingreso, particularmente los paises pobres, pasos que se toman para tratar los problemas de la deuda y los flujos de capital privado. Este volumen reune las ponencias de estudiosos de universidades y de organizaciones de investigacion internacional y los miembros del Fondo y el Banco Mundial.

Public Debts and Private Assets
Public Debts and Private Assets

Author: Leonce Ndikumana

Publisher:

Published: 2002

Total Pages: 0

ISBN-13:

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We investigate the determinants of capital flight from 30 sub-Saharan African countries, including 24 countries classified as severely indebted low-income countries, for the period 1970-1996. The econometric analysis reveals that external borrowing is positively and significantly related to capital flight, suggesting that to a large extent capital flight is 'debt-fueled'. We estimate that for every dollar of external borrowing in the region, roughly 80 cents flowed back as capital flight in the same year. Capital flight also exhibits a high degree of persistence in the sense that past capital flight is correlated with current and future capital flight. The growth rate differential between the African country and its OECD trading partners is negatively related to capital flight. We also explore the effects of several other factors - inflation, fiscal policy indicators, the interest rate differential, exchange rate appreciation, financial development, and indicators of the political environment and governance. We discuss the implications of the results for debt relief and for policies aimed at preventing capital flight and attracting private capital held abroad.

Capital Flight from Africa
Capital Flight from Africa

Author: Simeon Ibidayo Ajayi

Publisher: Oxford University Press, USA

Published: 2015

Total Pages: 455

ISBN-13: 0198718551

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A comprehensive thematic analysis of capital flight from Africa, it covers the role of safe havens, offshore financial centres, and banking secrecy in facilitating illicit financial flows and provides rich insights to policy makers interested in designing strategies to address the problems of capital flight and illicit financial flows.

African Economic Reform
African Economic Reform

Author: Carol Lancaster

Publisher: Peterson Institute

Published: 1991

Total Pages: 104

ISBN-13: 9780881320961

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This study proposes a new initiative involving the cancellation of concessional rescheduling of public bilateral debt of reforming African countries through a new international mechanism that would replace existing ones such as the Paris Club and the World Bank Consultative Groups. Each of a series of Adjustment Review Consortia would bring together representatives of donor and creditor governments international aid and development agencies, and an African government to coordinate debt relief, aid, and reform initiatives. Properly implements, ARCs would contribute to building a system in which economic need and performance, not political favoritism, play the principal roles in how debt and external financing in general are managed.