The African Debt Crisis
The African Debt Crisis

Author: Trevor W. Parfitt

Publisher: Routledge

Published: 2010-11-26

Total Pages: 203

ISBN-13: 1136887814

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Assessing both the macro- and micro-economic levels of the contemporary African Debt Crisis, this book, first published in 1989, begins by looking at the origins of the world debt crisis, and then looks closely at the problem as it affects Sub-Saharan Africa. The effects of debt on Africa’s position in international relations are considered, and the roles played by organisations such as the International Monetary Fund and the World Bank are assessed. The authors also examine the local effects in a series of case studies of various states including Nigeria, Ghana and Sierra Leone, the Francophone States and Zaire.

Servicing the Community Debt
Servicing the Community Debt

Author: Gibson Sakong

Publisher: Xlibris Corporation

Published: 2010-12-10

Total Pages: 116

ISBN-13: 145359728X

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The book asserts that the most realistic way for South Africa to successfully free itself from the legacies of apartheid is to meet two fundamental conditions: under-privileged communities must meaningfully embrace learning and workplaces must be turned into places of optimal value-creation. It also argues that a critical ingredient needed to accomplish this is a new spirit of leadership championed by communities. The author cautions that South Africa should follow a courageous path of making what works to work, instead of allowing itself to be overwhelmed by the negative power of what is wrong. He also points out that while corruption and incompetence are real and need decisive action, unbridled self-interest and hubris in various forms are also very serious threats which, although more difficult to remedy, require both competent leadership and effective strategies to bring under control. The book calls for a courageous new age of knowledge consciousness where ignorance is replaced by enlightenment, facilitated by leaders who do not just inspire momentary excitement in people, but who can practically educate people to embrace learning and practice real patriotism on a sustainable basis. It advocates a three-phase human capital development strategy based on the principles of consciousness, responsibility and competence, which can assist people to achieve significance in their lives.

The Sustainability of African Debt
The Sustainability of African Debt

Author: Daniel Cohen

Publisher: World Bank Publications

Published: 1999

Total Pages: 40

ISBN-13:

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July 1996 The role of debt forgiveness is to alleviate what is known as debt overhang. This concept is the core idea of the Brady deals, and it now comes to the African debt crisis. How can one gauge the hypothesis of the debt overhang? To what extent can one attribute the growth slowdown of the 1990s to the debt crisis of the 1980s? Using data from the past decade, the author finds that debt variables play a significant role in that slowdown. In one exercise, he finds that more than half the growth slowdown of the large debtor countries in the 1980s could be attributed to the debt crisis. To what reasonable debt ratio should African debt be written down? Most exercises set the threshold of sustainability of debt at about 200 percent. The easiest way to rationalize such a threshold is first to measure the average value of debt-to-export ratios reached at the time of the first rescheduling of debt in a given country. Using Latin America as a benchmark, one finds an average threshold of 248 percent. However short-sighted such a ratio might be, it goes a long way toward rationalizing the view that a debt-to-export ratio between 200 and 300 percent is a strong signal of a forthcoming crisis. This naive approach takes no account of the changing environment (growth and interest rates) a country must confront. A more subtle approach should allow for the prospect of a country's growth to assess the sustainability of the debt it inherits. With the author's formula for so doing, Africa's debt-to-export ratio should be brought to 198 percent. Another way to assess the sustainability of debt is to look at the secondary market, which allows one to estimate the prospect of repayment expected by market participants. Few African debts are actually quoted on secondary markets, but the author presents a formula for reconstructing estimates of repayment prospects econometrically. By that method, Africa's debt-to-export ratio should be 210 percent, suggesting that a threshold between 200 and 250 percent is about right.

Rescheduling South Africa's Debt
Rescheduling South Africa's Debt

Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on International Development, Finance, Trade, and Monetary Policy

Publisher:

Published: 1989

Total Pages: 160

ISBN-13:

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