Balance-of-Payments Problems of African Countries

Abstract

The difficulties experienced by some African countries in settling their external payments have become a matter of considerable concern, both to the countries themselves as well as to the regional and international institutions concerned with economic and financial development. More and more countries are plagued by these difficulties, while the difficulties themselves continue to multiply. Nevertheless, it appears that the nature, the size, and the implications of these payments problems are not always fully understood. This article seeks to analyse them, to emphasise the need for further study and to seek possible solutions.