March 01, 2013 International Law

Sovereign Debt in Sub-Saharan Africa

Jon H. Sylvester

The phrase “sovereign debt crisis” has been in the news a lot recently, primarily because of the precarious fiscal situation of Greece and fear of dire consequences for the Eurozone and even the global economy if the Greek government defaults. Although the differences are many, for some of us the Greek crisis called to mind another sovereign financial crisis that began more than 30 years ago and still has not been entirely resolved—at least so far as the nations of sub-Saharan Africa (SSA) are concerned.

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