n AfricaGrowth Agenda - External indebtedness nexus fiscal imbalances : where and how Africa is losing?

Volume 16 Number 3
  • ISSN : 1811-5187


In recent years external debt for many African countries has risen significantly. According to the World Bank (2019) external debt stock for sub-Saharan Africa hit an alarming $ US 535 billion in 2017, from a backdrop of $ US 228 billion in 2008; this implies that, the debt has doubled in less than a decade. Many Economists and International Development Experts agree that high debt robs long term growth, by increasing the risk of crisis as well as dampening the scope of counter-cyclical fiscal stimulus, as well as undermining private sector investments.

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