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UID:event-12035@amse-aixmarseille.fr
DTSTAMP:20260430T140247Z
CREATED:20260430T140247Z
LAST-MODIFIED:20260430T140247Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:phd seminar - Niccolo Rescia
DTSTART:20250527T090000Z
DTEND:20250527T094500Z
DESCRIPTION:The African sovereign external and domestic debt market is only
  a fraction of global capital markets and public debt stock\, yet it repres
 ents a majority of distressed sovereign credit and high-yield debt. A crit
 ical lack of granular data (specifically on domestic debt) means it remains
  severely understudied. Existing datasets — such as the World Bank’s In
 ternational Debt Statistics (IDS) or proprietary financial databases — of
 ten lack detail at the instrument level and provide limited coverage of dom
 estic debt issuances. This paper addresses this issue by carefully tracking
  domestic debt alongside external debt at the instrument and auction levels
 . We present N-ADD\, the most comprehensive and detailed dataset on soverei
 gn borrowing across 54 African countries. For external debt\, N-ADD covers 
 official debt for all 54 countries and commercial external debt for 21 coun
 tries with access to international capital markets. For domestic debt\, N-A
 DD includes bonded instruments at the auction and issuance levels for 51 co
 untries. Sources are drawn from both current and archived websites of finan
 ce ministries\, central banks\, and debt management offices. Each record in
 cludes issuance and maturity dates\, amounts in local currency and USD equi
 valent\, interest rates\, coupon structures\, and issuance prices (when ava
 ilable). The dataset provides an updated perspective on the debt boom of th
 e 2010s and the dynamics underlying the debt crises following the COVID pan
 demic. Its main contribution is to provide micro-level (instrument- and iss
 uance-level) data for comparing external and domestic indebtedness dynamics
  amongst African sovereigns\, covering both the Great Financial Crisis and 
 the COVID period\, providing a fresh perspective on related sovereign debt 
 crises. We document a number of previously documented stylized facts at new
  levels of granularity\, including (i) the sharp rise in interest payments 
 and refinancing cost challenging African debt management offices\, and (ii)
  the increased reliance on domestic debt to fund budget gaps in times of cr
 isis\, enabled by decades of domestic financial sector deepening.\\n\\nCont
 act: Philippine Escudié : philippine.escudie[at]univ-amu.frLucie Giorgi :
  lucie.giorgi[at]univ-amu.frKla Kouadio : kla.kouadio[at]univ-amu.frLola So
 ubeyrand : lola.soubeyrand[at]univ-amu.fr\n\nPlus d'informations: https://
 amse-aixmarseille.fr/fr/evenements/niccolo-rescia
LOCATION:Îlot Bernard du Bois - Amphithéâtre\, AMU - AMSE\, 5-9 boulevar
 d Maurice Bourdet\, 13001 Marseille
URL;VALUE=URI:https://amse-aixmarseille.fr/fr/evenements/niccolo-rescia
CONTACT:Philippine Escudié :&nbsp\;philippine.escudie[at]univ-amu.frLucie 
 Giorgi : lucie.giorgi[at]univ-amu.frKla Kouadio : kla.kouadio[at]univ-amu.f
 rLola Soubeyrand :&nbsp\;lola.soubeyrand[at]univ-amu.fr
TRANSP:OPAQUE
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