Studia i Prace WNEiZ US

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Studia i Prace WNEiZ


ISSN: 2080-4881     eISSN: 2300-4096    OAI    DOI: 10.18276/sip.2016.44/2-24
CC BY-SA   Open Access   CEEOL

Issue archive / nr 44/2 2016
Zadłużenie publiczne w krajach Afryki Subsaharyjskiej
(Public debt in sub-Saharan Africa)

Authors: Agnieszka Tomczak
Politechnika Warszawska
Keywords: sovereign debt sovereign bonds Sub-Saharan Africa
Data publikacji całości:2016
Page range:14 (343-356)
Klasyfikacja JEL: H63
Cited-by (Crossref) ?:

Abstract

This article is intended to analyze the Sub-Saharan Africa’s public debt, with strong focus on changes in it’s structure. The method is the data analysis of the regional statistics, creditworthiness valuation and chosen publications. The thesis is the statement, that in 2006–2014, changes in level and structure of foreign debts of this region has come in the direction of their marketization. They are related to both benefits and the risk for issuers and investors. Dynamic growth of emerging markets in the past quarter of century is associated with the growth of state expenditures on infrastructure and public services, wherein needs of African countries are here particularly large. The demand for mineral resources and agricultural products coming from this region caused rapid growth of GNP and exportation, after which positive changes in public sector management, including the national debt, should have come. After cancelling the debts of African countries, they are taking new loans and some of them are issuing the debentures, what previously was impossible. This article is intended to analyze the Sub-Saharan Africa’s public debt, with strong focus on changes in it’s structure. The method is the data analysis of the regional statistics, creditworthiness valuation and chosen publications. The thesis is the statement, that in 2006–2014, changes in level and structure of foreign debts of this region has come in the direction of their marketization. They are related to both benefits and the risk for issuers and investors. Dynamic growth of emerging markets in the past quarter of century is associated with the growth of state expenditures on infrastructure and public services, wherein needs of African countries are here particularly large. The demand for mineral resources and agricultural products coming from this region caused rapid growth of GNP and exportation, after which positive changes in public sector management, including the national debt, should have come. After cancelling the debts of African countries, they are taking new loans and some of them are issuing the debentures, what previously was impossible.
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