Public debt has become a defining issue shaping Africa’s development trajectory. In recent years, rising borrowing levels, changing creditor structures, global financial tightening, climate financing pressures, and commodity price volatility have reshaped the continent’s fiscal landscape. Yet borrowing remains essential for infrastructure, social investment, and structural transformation. The key question is not whether Africa should borrow, but how it can do so sustainably while strengthening economic resilience. This book provides a rigorous, policy-oriented analysis of debt dynamics across Africa. It examines the drivers of debt accumulation, debt sustainability frameworks, restructuring mechanisms, and concessional financing. It also explores emerging innovations such as Islamic sovereign bonds, ESG integration in debt management, and climate finance instruments. By offering comparative insights into the interaction between debt, exchange rates, institutional quality, private investment, and macroeconomic stability, the book presents practical strategies for responsible borrowing and long-term fiscal resilience.
