By use of the qualitative approach this study examines the institutional arrangements in debt management convention as promoted by the World Bank, and the IMF, and the extent to which the measures have been effective as guidelines among the lesser developed economies. A survey involving key officers engaged in debt management procedure in selected sub-Saharan African countries reveals that most of the key aspects of the institutional arrangements in debt management have been complied with and are being implemented. And the efforts by the African nations tend to impact positively on the countries' debt management processes and the potentials to achieve favorable growth.