Africa's odious debts : how foreign loans and capital flight bled a continent / Léonce Ndikumana and James K. Boyce.

"In association with International African Institute, Royal African Society, Social Science Research Council."

"Africa's Odious Debts explodes the myth that Africa is a drain on the West's finances, revealing that the continent is actually a net creditor to the rest of the world. Of the money borrowed by African governments, more than half departs in the same year, with a significant portion of it winding up in private accounts at the very banks that provide the loans. Meanwhile, debt-servicing means less money for public health and other needs. Revealing the intimate links between foreign loans and capital flight, this is a vital book for anyone interested in Africa, its future and its relationship with the West."--Page 4 of cover.

Includes bibliographical references (pages 121-130) and index.

Tales from the shadows of international finance -- Measuring African capital flight -- The revolving door -- The human costs -- The way forward -- Appendix 1. Tables -- Appendix 2. Senior policy seminar on capital flight in sub-Saharan Africa.