Assessing both the macro- and micro-economic levels of the contemporary African Debt Crisis, this book, first published in 1989, begins by looking at the origins of the world debt crisis, and then looks closely at the problem as it affects Sub-Saharan Africa. The effects of debt on Africa’s position in international relations are considered, and the roles played by organisations such as the International Monetary Fund and the World Bank are assessed. The authors also examine the local effects in a series of case studies of various states including Nigeria, Ghana and Sierra Leone, the Francophone States and Zaire.
1. The Nature of African Debt 2. The Politics of External Policy Direction 3. Nigeria: the Circuitous Path to Stabilization? 4. Zaire: in Debt in an Absolutist Kleptocracy 5. Ghana: Indebtedness, Recovery, and the IMF, 1977-87 6. Sierra Leone: Debt and the Fiscal Crisis of the State 7 . External Debt and Francophone Africa: the Effects of a Special Relationship 8. Ways out of the Debt Trap 9. Conclusion