Experience since the global financial crisis suggests that whenever central banks are called upon to discuss sovereign debt issues, countries are in real trouble. Today, I’ll be making some remarks on the sovereign debt situation from an African central bank perspective.
But first, I should preface my remarks by highlighting that while debt has a very important role to play in economic development, one should also reflect on the challenges and pitfalls presented by debt to developing economies in sub-Saharan Africa (SSA).