Front Matter Page
African Department
Authorized for distribution by Godfrey Kalinga
Contents
I. Introduction
II. Description of Database
III. Important Aspects of Domestic Debt Management
IV. Characteristics of Domestic Debt Markets in Non-CFA SSA Countries
A. Developments in Domestic Debt: 1980–2000
B. The Investor Base
C. Real Treasury Bill Rates and Financial Sector Reforms
D. Maturity Structure
V. The Impact of Domestic Debt on the Budget and Private Sector Credit
A. Budget Implications
B. Impact on Private Sector Credit
VI. Conclusion, Policy Implications, and Needs for Reforms
Tables
1. Domestic and External Debt, 1980–2000
2. Financial Sector Depth and Domestic Debt, 1980–2000
3. Holdings of Government Debt Across Sectors
4. Financial Development, Real Treasury Bill Rates, and Private Sector Credit, 1980–2000
5. Average Maturity for Selected African Countries and Emerging Markets
6. Domestic Interest Payments, 1980–2000
7. The Cost of domestic and Foreign Borrowing
Figure
1. Average Maturity Structure of Domestic Debt in 14 Non-CFA SSA Countries
References