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The Research Of The External Debt In CEMAC's Countries

Posted on:2006-01-07Degree:MasterType:Thesis
Country:ChinaCandidate:Francois LikondzabekaFull Text:PDF
GTID:2166360155957650Subject:National Economics
Abstract/Summary:PDF Full Text Request
The economic and financial situation of central Africa deteriorated steadily from the late 1980's, when large external shocks, coupled with poor economic and financial management led to a fall in the economic performance of the zone. In the beginning of the 1980, countries of the CEMAC were confronted by a macroeconomic persistent financial crisis particularly due to the deep problem of foreign debt. The drying up of traditional sources of financing has obliged governments to modify the framework of their political economy and to review the method of their public financing system. It would appear a slowing of the growth rate, a deficit balance of trade, a deterioration of term of trade, a recurrent of budget deficit, an excessive debt and a service of the debt unbearable debt in compare to means ratio of the totality of sub-Saharan and a rapid population growth.Our reflections will focus on explanatory factors of the external debt of countries of the CEMAC. The diagnosis of this debt will be the first stage of our investigation. Then, we will note objectives and the hypothesis of the subject and the theoretical review of the debt. Moreover, we shall present the characteristic (extent, evolution and composition) of the debt of the CEMAC countries and the different policies in the topic so as to get out of the economic impasse. By looking at the theoretical review and the characteristic of the exterior debt, we will undertake the empirical analysis by the econometric application to the case of the CEMAC. The interpretation of the result and recommendations, in terms of actions and strategy, in the senses of the strengthening of policies of the reduction of the external debt will buckle the study.
Keywords/Search Tags:Economic and Monetary Community of Central Africa (CEMAC), External Debt, Structure Adjustment Program
PDF Full Text Request
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