Resolving Africa's Multilateral Debt Problem: A Response to the IMF and the World Bank

Cover\r......Page 2
The Author......Page 4
Contents......Page 5
Abbreviations......Page 7
Preface by Jan Joost Teunissen\r......Page 8
Introduction......Page 9
The IMF/\rWorld Bank Response......Page 11
The Need \rfor an Alternative Approach......Page 14
II Overall Dimensions of Sub-Saharan Africa\'s Multilateral Debt Problem......Page 17
Growth in Private Debt......Page 19
Growth in Arrears......Page 20
Growth in Multilateral Debt Service......Page 21
The Concessionality of Africa\'s Multilateral Debt......Page 23
The Exchange Rate Effect......Page 24
The Principal Multilateral Creditors......Page 25
The World Bank Group (WBG)......Page 26
The International Monetary Fund (IMF)......Page 33
The African Bank Group (AfBG)......Page 35
Other Multilateral Institutions......Page 37
Existing Instruments......Page 40
Alternative Options......Page 41
The Selection of Countries......Page 46
Alternative Principles and Measures......Page 50
Conclusion......Page 56
Annexes and Bibliograpgy\r......Page 57
Annex 1 Summary of the New IMF/\rWorld Bank HIPC Initiative......Page 58
Annex 2 The Costs of the New IMF/\rWB Debt Initiative......Page 59
Annex 3 Sub-Saharan Africa\'s Outstanding Multilateral Debt: 1980-94......Page 61
Bibliography......Page 62