Description
Public debt has become one of the defining economic issues shaping Africa s development trajectory. In recent years, rising borrowing levels, evolving creditor structures, global financial tightening, climate financing demands, and commodity price volatility have significantly altered the continent s fiscal landscape. Yet borrowing remains indispensable for infrastructure development, social investment, and structural transformation. The critical question is not whether Africa should borrow, but how it can do so sustainably while strengthening economic resilience.
This book offers a rigorous and policy-oriented examination of debt dynamics across the continent. It analyzes the drivers of debt accumulation, debt sustainability measurement, restructuring mechanisms, fiscal rules, and concessional financing. It also explores emerging innovations, including Islamic sovereign bonds, ESG integration into debt management, and climate finance instruments.
By providing comparative insights into how debt interacts with exchange rates, trade performance, institutional quality, private investment, and macroeconomic stability, this book presents practical strategies for responsible borrowing and long-term fiscal resilience. It is essential reading for policymakers, researchers, and development practitioners engaged in Africa s economic future.
1. The Economics of Debt in Africa: Stakes for Fiscal Stability and Growth.- 2. Drivers of Public Debt Accumulation in African Economies: Insights from Panel Data Analysis.- 3. Debt Sustainability Metrics: Rethinking Indicators for African Economies.- 4. Fiscal Rules and Debt Sustainability in Africa: An Empirical Investigation.- 5. Threshold Effects of Public Debt on Economic Growth in Sub-Saharan Africa.- 6. Examining the Effectiveness of Debt Restructuring Mechanisms in African Countries.- 7. The Role of International Financial Institutions in African Debt Restructuring.- 8. Global Economic Shocks and Debt Vulnerability in African Economies.- 9. Evaluating the Effectiveness of Concessional Loans in Reducing Debt Stress.- 10. The Role of Eurobonds in Financing Africa's Development and Implications for Sovereign Debt.- 11. Green Financing and Climate Bonds: Innovative Tools for Debt Management.- 12. Public Debt and Energy Transitions: Financing Green Energy in Africa.- 13. Debt, Poverty, and Inequality: Unraveling the Social Dimensions of Fiscal Policies.- 14. Corruption, Public Debt, and Economic Growth: The African Experience.- 15. The Role of Sovereign Credit Ratings in Shaping Public Debt Dynamics in Africa.- 16. Public Debt and Exchange Rate Volatility: Implications for Trade and Investment.- 17. The Role of Commodity Price Volatility in Public Debt Sustainability in Resource-Dependent African Countries.- 18. Debt Overhang and Private Investment in Africa: Crowding-Out or Complementarity?.
Dr. Ibrahim Nandom Yakubu is a Lecturer in Finance and Head of the Business Innovation and Incubation Department at the School of Business, University for Development Studies (UDS), Ghana. He holds a PhD in Banking and Finance and specializes in macro-finance, institutional economics, sustainable finance, and financial innovation in emerging and developing economies. With a strong quantitative orientation, he has published extensively in peer-reviewed journals and contributed to numerous academic books in finance. He also serves as an editor of several scholarly volumes on topics such as fintech and financial inclusion, green finance, and regulatory innovation, contributing to ongoing academic discourse on contemporary issues in finance and development. Dr. Yakubu is a recipient of the prestigious 2022 Emerald Literati Award for Outstanding Paper, recognizing the impact of his scholarly contributions. Beyond academia, he is an experienced consultant with expertise in institutional capacity assessment and applied research for civil society organizations and development partners in Ghana. He is a member of the African Accounting and Finance Association (AAFA) and serves as an Associate Editor for the Review of Business Management (RBGN) and the Cureus Journal of Business and Economics.
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