Publication:
Borrow with Sorrow? The Changing Risk Profile of Sub-Saharan Africa's Debt

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dc.contributor.authorCalderon, Cesar
dc.contributor.authorZeufack, Albert G.
dc.date.accessioned2020-02-06T16:44:52Z
dc.date.available2020-02-06T16:44:52Z
dc.date.issued2020-01
dc.description.abstractIn the post-global financial crisis period, the financing of countercyclical policies led not only to a reduction in the fiscal surpluses across Sub-Saharan African countries, but also an increase in their levels of indebtedness. Although public debt for the region in 2018 was still below that of the pre-debt forgiveness period, the risk profile of public debt has sharply increased. The share of concessional public debt has been declining while that owed to private creditors and non–Paris Club bilateral creditors has been rising. The resulting reconfiguration of public debt has led to increased debt service in the region. Hence, the higher risk profile of debt and rising payments might lower the threshold for debt distress in the region. Addressing public debt vulnerabilities requires the buildup of external and fiscal buffers by conducting prudent fiscal policies and implementing growth-enhancing reforms, and the strengthening of debt management practices. However, the policy toolkit can be enlarged by gradually moving from debt management to balance-sheet management of the public sector, and policies to boost the efficiency of public investment.en
dc.identifierhttp://documents.worldbank.org/curated/en/370721580415352349/Borrow-with-Sorrow-The-Changing-Risk-Profile-of-Sub-Saharan-Africas-Debt
dc.identifier.urihttps://hdl.handle.net/10986/33293
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9137
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDEBT SUSTAINABILITY
dc.subjectDEBT SERVICE BURDEN
dc.subjectDEBT COMPOSITION
dc.subjectBOND ISSUE
dc.subjectFISCAL TRENDS
dc.subjectCOUNTERCYCLICAL POLICY
dc.titleBorrow with Sorrow? The Changing Risk Profile of Sub-Saharan Africa's Debten
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleBorrow with Sorrow? The Changing Risk Profile of Sub-Saharan Africa's Debt
okr.date.disclosure2020-01-30
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/370721580415352349/Borrow-with-Sorrow-The-Changing-Risk-Profile-of-Sub-Saharan-Africas-Debt
okr.guid370721580415352349
okr.identifier.doi10.1596/1813-9450-9137
okr.identifier.externaldocumentum090224b087597815_2_0
okr.identifier.internaldocumentum31743945
okr.identifier.reportWPS9137
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/370721580415352349/pdf/Borrow-with-Sorrow-The-Changing-Risk-Profile-of-Sub-Saharan-Africas-Debt.pdfen
okr.region.administrativeAfrica
okr.region.geographicalSub-Saharan Africa
okr.statistics.combined4443
okr.statistics.dr370721580415352349
okr.statistics.drstats3097
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Debt Relief and HIPC
okr.topicInternational Economics and Trade::Capital Flows
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Economic Adjustment and Lending
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.unitOffice of the Chief Economist, Africa Region
relation.isAuthorOfPublication83529956-4c02-5ee8-99c9-d6e9ab43f3a8
relation.isAuthorOfPublication.latestForDiscovery83529956-4c02-5ee8-99c9-d6e9ab43f3a8
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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