Africa: Politics and Societies South of the Sahara

Africa as a Net Creditor

Posted in African Politics, Global Africa by ruben eberlein on July 3, 2013

During my research for an article on the informal economy in Africa (due to be published in Konkret’s August edition) I came across an update of the calculations by James K. Boyce and Léonce Ndikumana with regards to capital flight from 33 sub-Saharan African countries, already published in October 2012. The authors found that the total stock of capital that is invested or spent in the global north (calculated with the modest short-term US Treasury Bill interest rate) between 1970 and 2010 amount to 1.06 trillion US-Dollar. “The stereotypical view that SSA is severly indebted and heavily aid-dependent”, they write, “is not fully consistent with the facts.”

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