Central Bank of Nigeria, Research Department
External Debt, Debt service, Sub-Saharan Africa, External Debt Service
The paper investigated how changes in commodity prices, exchange and interest rates, and terms of trade affect external debt service. The paper employed capital recovery theory and regression analysis in evaluating a model for Sub-Saharan Africa as a whole, and Nigeria, Ghana, Cote d'Ivoire and Egypt. The results of the study confirmed empirically the widely held view that increase in commodity prices enhances the ability of the countries in the region to service their external debts.
Uchendu, Okorie A. (1994). The determinants of external debt service in Africa. CBN Economic and Financial Review, 32(1). 34 - 46.