Publication

This paper examines changes to sovereign debt governance in Africa as well as the interests and concerns of African leaders regarding sovereign debt. In particular, the authors 1) provide a brief history of sovereign debt restructuring in Africa; 2) examine the external borrowing practices of African countries as well as their growing tendency to turn toward international capital markets and new bilateral creditors to meet their borrowing needs; and 3) address African perspectives on why and how the international sovereign debt architecture should be reformed.