TY  - BOOK
AU  - Boyce, James K  and Ndikumana, Leonce
TI  - Debt Audits and the Repudiation of Odious Debts
T2  -  2012
PY  - 2012///
CY  - Association of Concerned Africa Scholars
PB  - Geneva
KW  - CAPITAL FLIGHT
N2  - African countries continue to rely on external borrowing to fill their resource gaps in financing development. By 2010, the total stock of external debt outstanding for the continent stood at $297 billion and its annual debt service bill was $22 billion. To the extent that debts are used for productive purposes, the direct and indirect returns for the debt-financed investments should enable the debtor countries to honor their debt obligations. In practice, however, foreign loans are often either squandered on ill-designed projects or even worse embezzled to finance private wealth accumulation in offshore centers
UR  - http://iffoadatabase.trustafrica.org/iff/debt_audits_and_the_repudiation_of_odious_debts.pdf
ER  -