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An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa
Author:
Mr. Simeon Inidayo Ajayinull

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Series:
IMF Working Papers
Volume/Issue:
Volume 1997: Issue 068
Language:
English
Publication Date:
01 Jun 1997
DOI:
https://doi.org/10.5089/9781451961119.001
ISBN:
9781451961119
ISSN:
1018-5941
Pages:
62
Keywords:
WP; export ratio; hot money; capital flight reversal; capital flight estimate; external debt; capital flight issue; GNP ratio; Capital outflows; Debt burden; Debt service; Exports; Sub-Saharan Africa; Africa
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The general objective of this study is to analyze the external debt and debt burdens of the severely indebted sub-Saharan African countries, estimate the magnitude of capital flight from them, and relate the estimate of capital flight to some macroeconomic aggregates. The study also contains policy implications of international efforts to deal with the high levels of external debt in sub-Saharan Africa in conditions of extreme poverty, and stagnant and declining exports. It questions the theoretical foundation in which the external debt strategy has been based and offers solutions to the external debt problem.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1997: Issue 068