Resolving Africa's Multilateral Debt Problem PDF Download

Author: Percy S. Mistry
Publisher:
ISBN:
Category : Debt relief
Languages : en
Pages : 76

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Author: All Party Parliamentary Group on Overseas Development
Publisher:
ISBN:
Category : Africa
Languages : en
Pages : 88

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Book Description
Measures of Debt Relief

Author: Gregory Smith
Publisher: Oxford University Press
ISBN: 019764421X
Category : Business & Economics
Languages : en
Pages : 230

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Book Description
Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.

Author: Elgie McFayden
Publisher:
ISBN:
Category :
Languages : en
Pages :

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In June 2005, the major industrialized nations of the world, the G-8, agreed on a plan to relieve the debt of the worlds poorest and most indebted nations. Many of the nations which qualified for debt relief under this initiative were in Africa. The plan, supported by the World Bank, International Monetary fund and the African Development Bank came to be known as the Multilateral Debt Relief Initiative (MDRI). The primary objective of the program was to relieve up to 100 percent of the debt of those nations which met specific criteria for the program making it possible for impoverished nations, particularly those in Africa, to increase spending to help reduce poverty and address poverty related issues. Data suggests that debt relief to African nations, while plausible in theory, simply does not work. In 2004 for example, the average debt service among African nations participating in the debt relief program was $19 million. The average amount of new loans acquired by African nations participating in the program was over $25 million. Essentially, African nations are acquiring new loans faster than debt is being relieved. If poverty reduction is the primary goal of the debt relief program, why doesn't the international community focus their efforts on funding projects which address poverty and poverty related social and economic issues. In addition, data indicate the average annual debt service by African nations in the debt relief program accounts for 20 percent of the annual budget. When debt is relieved these same African nations generally increase spending on poverty and poverty related programs by a mere 1 percent. As such, this paper examines the impact of debt relief on African nations and the potential impact of alternative approaches to poverty reduction programs funded by the international community.

Author: Percy S. Mistry
Publisher:
ISBN:
Category : Debt relief
Languages : en
Pages : 92

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Book Description

Author: George C. Abbott
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 216

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Book Description
Sub-Saharan Africa is facing a debt crisis of major international significance. Not only have debt levels risen sharply, but output and exports have stagnated. Standards of living have fallen drastically, and in many cases have been reduced to the level of the early 1960s. This important book argues that it is impossible for Sub-Saharan African countries to resolve the debt crisis without outside assistance. The conventional methods of debt consolidation are inappropriate and of limited use in their case. The SSA countries need to undertake major structural reforms if they are to get out of debt and achieve long term sustainable growth and development. The book provides an integrated debt-development strategy for achieving both these goals. Debt Relief and Sustainable Development in Sub-Saharan Africamakes a significant contribution to an important but hitherto relatively neglected area of the international debt crisis. It will be essential reading for development economists as well as all those with an interest in contemporary Africa.

Author: E. Wayne Nafziger
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 320

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Book Description
Since the 1970s, African nations have faced chronic economic stagnation, increased poverty, debt and growing inequality among the classes. This book examines attempts to alleviate these problems by such bodies as the World Bank and the International Monetary Fund (IMF), to name a few.

Author: Percy S. Mistry
Publisher:
ISBN:
Category : Africa, Sub-Saharan
Languages : en
Pages : 76

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Book Description

Author: Dawn Nagar
Publisher: Palgrave Macmillan
ISBN: 9783319873497
Category : Political Science
Languages : en
Pages : 520

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Book Description
This book probes key issues pertaining to Africa’s relations with global actors. It provides a comprehensive trajectory of Africa’s relations with key bilateral and major multilateral actors, assessing how the Cold War affected the African state systems’ political policies, its economies, and its security. Taken together, the essays in this volume provide a collective understanding of Africa’s drive to improve the capacity of its state of global affairs, and assess whether it is in fact able to do so.

Author: Martin Dent
Publisher: Routledge
ISBN: 0429687443
Category : Business & Economics
Languages : en
Pages : 265

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Book Description
First published in 1999, this volume, the first to be published in on Jubilee 2000, describes the plight of 52 of the poorest nations in the world and puts in detail the case for radical cancellation of past inert debt. The cost and benefit of this remission and the groundbreaking concordat of peoples and governments that could accompany it are examined in detail. It contains critiques of the economic bases of the World Bank and IMF approaches to debt management in developing economies, as manifested in structural adjustment programmes and their maintenance, misuse of excess reserves and the methods used to carry out restructuring and development projects. The British anti-slavery campaign saw a mobilisation of public opinion for a great cause. Using this as a source of inspiration, public opinion must again be mobilised for what amounts to the greatest opportunity for justice, compassion and forgiveness facing us all at the beginning of a new millennium.