By Ishrat Husain, John Underwood
Publication by way of Husain, Ishrat
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Additional resources for African External Finance in the 1990s (World Bank Symposium)
Nyirjesy and Johnson Sirleaf write that of the 44 countries, 15 account for 97 percent of commercial bank borrowing. Nigeria and Côte d'Ivoire together account for 60 percent. Commercial bank long-term lending to Sub-Saharan Africa dropped sharply during the 1980s. Nyirjesy and Johnson Sirleaf note that commercial bank disbursements fell from $4 billion in 1980 to less than $2 billion in 1988. Net of principal repayments, disbursements fell from almost $3 billion in 1980 to less than $500 million in 1988.
The quality and efficiency of domestic investment need to improve. External finance will be in short supply and cannot be squandered as it often was in the past. Efficient external resource use will be a major determinant of Africa's economic success in the 1990s. Note 1. The authors are the Lead Economist and Division Chief respectively, Debt and International Finance Division, the World Bank. The views expressed in this chapter are those of the authors and should not be attributed to the World Bank, its Board of Directors, its management or any of its member countries.
Risk Management in Sub-Saharan Africa Stijn Claessens, Ying Qian 151 Comment, Michael Dooley 160 14. G. C. Yvonne D. C. Ying Qian International Economics Department, World Bank Mufutau Iyiola Raheem Professor, University of Ibadan, Nigeria Roger Riddell Overseas Development Institute Emanuel Tumusiime-Mutebile Ministry of Planning and Economic Development, Uganda John Underwood International Economics Department, World Bank Marcel Yondo Former Finance Minister, Cameroon Page 1 1 Introduction John Underwood Ishrat Husain External financing for Sub-Saharan Africa is a vexing problem with no easy solutions.
African External Finance in the 1990s (World Bank Symposium) by Ishrat Husain, John Underwood