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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Nigeria: A Different Bailout Is Possible

Posted in African Politics, Global Africa, Nigeria by ruben eberlein on September 3, 2009

2009-36-cover-a‘The bonus culture must come to an end’, demands the acting chief of European Ministers of Finance, Anders Borg. Nigeria’s Central Bank is far ahead in that regard. Several CEOs of top banks were arrested last week, the Economic and Financial Crimes Commission (EFCC) investigates them and several high-profile debtors. Find my text on the issue in the latest edition of Jungle World.