Abstract

This article aims to briefl y summarize the evolution of the external debt problem in developing countries, with a particular focus on Sub-Saharan Africa. Analyzing the historical roots of the problem and the economic and political factors that underpinned its evolution, the article discusses the consequences of a high external debt-to-GDP ratio on economic growth and the international community's efforts to curb this problem. Taking into consideration the latest macroeconomic trends of the region, the article closes by proposing an insight on its future development prospects.