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Africa’s economic, social, and political history largely determines its current economic development. The externally imposed structural adjustment programs and reform initiatives of the 1980s and 1990s failed to promote productivity, employment, a…
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With about a year into implementation of the 2017 to 2019 Medium Term Debt Strategy, this paper gives a synopsis of the strategy. It delves into each of the pillars of the strategy and analyses the pros and cons of each and assesses whether the pil…
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Presently, 19 African countries have exceeded the 60% debt-to-gross domestic product (GDP) threshold prescribed by the African Monetary Co-operation Programme (AMCP) for developing economies, while 24 have surpassed the 55% debt-to-GDP ratio suggest…
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Eskom is a vertically integrated monopoly, wholly owned by the state, supplying about 90 per cent of the electricity consumed in South Africa. Measured by generating capacity, it is the eleventh largest power utility in the world. It is the sixth la…
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This edition of Foresight Africa illuminates the priorities of the continent in the coming year, with recommendations for tackling the challenges that lie ahead. In Chapter 1, authors examine how good governance, elections, and institutions of democ…
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In 2019, the economic outlook of sub Saharan Africa will strengthen, due largely to a combination of higher commodity prices, a stronger global economy, and supportive domestic policies. The latest projections have the region’s aggregate gross dome…
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Our analysis suggests that, while another systemic sovereign debt crisis is not imminent, the rapid pace of the debt increase, as well as important changes in its structure and design features compared with that of the HIPC/MDRI era are concerning. …
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"This paper discusses various aspects of the problems African governments face in financing their generally large budgetary deficits. Its primary objective is to focus on the main methods of financing which are realistically available given the gene…
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"In recent years, Zambia has been faced with the increased need to plug huge infrastructural gaps. However, the slowing down of bilateral and multilateral financing due to austerity measures in developed economies has made the country diversify it…
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"The report analyses the linkages between domestic debt and economic development with regards to the use of domestic debt in the economy. It unpacks the legal framework and institutional structure for domestic debt contraction. It also provides an a…
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"This borrowing charter contains principles and guidelines on sovereign financial borrowing. It seeks to guide and inform sovereign states borrowing so as to improve the current weak administrative, institutional and legal procedures for loan contra…
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"Perennial fiscal deficit overruns in Ghana and their adverse effects on the economy have attracted widespread concern. Motivated by this concern, IEA carried out research to assess the processes, arrangements and the legal framework for budget prep…
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The level of Uganda’s public debt has created doubts regarding the government’s sustained ability to repay. This is because of both the rapidly increasing debt accumulation as well as share of interest payments in the national budget. The brief exam…
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After the global financial and economic crisis of 2008, there has been a substantial increase in sovereign bond issuance in Sub Saharan Africa. The total value of bonds issued increased by over 620% from $1 billion in 2011 to $6.2 billion in 2014.…
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There are various ways and sources from which a country can mobilize resources to finance its development. These sources of funds can be domestic or external. The major sources of external funding are multilateral and bilateral debts. Countries can …
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This paper will seek to raise the legitimacy of some of the debts contracted in the recent past, not only because they have added to the misery of the poor, but because of the manner in which they have been contracted. The net effect of all debts is…
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The study was conducted through desk reviews of Member States Constitutions, Public Finance Management Acts, Budget Laws, Debt Management Laws and relevant legislation. It also reviewed national budgets, Budget Framework Papers, National Development…
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Zambia’s current legal framework for public debt management is inadequate. The high level of external debt standing at US$11.2 billion and domestic debt at K80.2 billion due to fast pace of debt contraction; the resulting heightened risk of debt dis…
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This report seeks to highlight trends in key debt management measures for a selected number of African countries with debt management problems (Central African Republic, Chad, Ghana, Mozambique, Senegal and Zambia). Extra analysis on Ghana is presen…
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Developing countries, especially in Africa must establish appropriate and dynamic legal frameworks and structures that are responsible for coordinating and managing public debt. All public loan contraction and debt management rules and regulations m…
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