Is Africa Headed For Another Debt Crisis? Assessing Solvency in a Sluggish Subcontinent

23 Pages Posted: 1 May 2019

See all articles by Indermit S. Gill

Indermit S. Gill

World Bank - Poverty Reduction and Economic Management Network (PRMVP)

Kenan Karakulah

World Bank - Macroeconomics, Trade and Investment Global Practice

Date Written: March 1, 2019

Abstract

Several African countries are headed into another debt crisis, just a decade or so after their slates had been wiped clean by debt relief. This is based on an assessment of country-specific debt dynamics: the debt to GDP ratios, the rate of growth of debt, the terms at which debt is being contracted relative to economic growth rates, and the willingness of governments to run primary budget surpluses if necessary.

Keywords: public debt, middle-income countries, debt crisis, debt dynamics, Sub-Saharan Africa, debt relief

Suggested Citation

Gill, Indermit S. and Karakulah, Kenan, Is Africa Headed For Another Debt Crisis? Assessing Solvency in a Sluggish Subcontinent (March 1, 2019). Duke Global Working Paper Series No. 2019/02. Available at SSRN: https://ssrn.com/abstract=3364642 or http://dx.doi.org/10.2139/ssrn.3364642

Indermit S. Gill (Contact Author)

World Bank - Poverty Reduction and Economic Management Network (PRMVP) ( email )

Washington, DC 20433
United States

Kenan Karakulah

World Bank - Macroeconomics, Trade and Investment Global Practice ( email )

NW, DC 20006
United States

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