Policy Briefs

Concise, actionable documents designed for rapid production when a country faces a relevant juncture.

Published

Fiscal & Debt 2026

Over-Borrowing and Debt Traps: How Anticipated Resource Wealth Drives Sovereign Debt Crises

Ghana · Zambia · Mozambique · Ethiopia · Senegal · Kenya

African Eurobond issuers borrowed $111 billion in a decade. Five have defaulted. This note traces the mechanisms — from forecast-driven market access to maturity cliffs — that turn anticipated resource wealth into debt distress.

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Resource & Presource 2026

What is the Presource Curse and How Can Countries Avoid It?

Ghana · Mozambique · Senegal · Malawi

Most people assume the resource curse begins when oil starts flowing. The evidence suggests otherwise. This brief explains the four channels of the presource curse and what governments can do at each stage.

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Threats to Growth Lab

Policy Briefs

Published

Over-Borrowing and Debt Traps: How Anticipated Resource Wealth Drives Sovereign Debt Crises

What is the Presource Curse and How Can Countries Avoid It?