CHAPTER 3 – Debt Sustainability and Attributes of Politicians in Selected African Countries by Evans S. Osabuohien, Uchenna R. Efobi, Ibukun Beecroft and Stephen Oluwatobi
Debt sustainability connotes that the growth rate of public debt must be less than domestic output, export and tax revenues (World Economic Outlook, 2012). In Africa, there is the urgent need for debt sustainability. This is based on the fact that her debt trajectory has remained contentious as the value of her total external debt constituted between 20 to 60 percent of her GDP during the period 2002 to 2010. Likewise her total external debt amounted to about 50 to 180 percent of her total export in the same period. More disturbing is that 61 percent of the countries in Africa are listed among the heavily indebted poor countries-HIPC (World Bank, 2012).