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African Central Government Debt 2012

Statistical Yearbook

image of African Central Government Debt 2012

The focus of this greatly improved third edition is to provide comprehensive quantitative information on African central government debt instruments, both marketable debt and non-marketable debt.

The coverage of data is limited to central government debt issuance as well as bi-lateral, multi-lateral and concessional debt and excludes therefore state and local government debt and social security funds.

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Introduction

Government debt managers have the responsibility to issue debt instruments to meet the borrowing needs of governments, to manage the outstanding stock of debt and to contribute to the development of the market infrastructure. The type of debt instruments to be issued and the amounts to be raised depend not only on the volume of the borrowing requirement but also on the liquidity of the various outstanding instruments, preferences of investors and, more generally, on the financial and macroeconomic environment. Raising funds through marketable instruments will depend on factors such as access to well-functioning primary and secondary markets (in particular market liquidity), and the presence of well-developed market segments – institutional and retail investors.

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