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Debt Relief and Beyond: Lessons Learned and Challenges Ahead
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Overview
The Heavily Indebted Poor Countries (HIPC) Initiative is the first comprehensive multilateral debt relief framework for low-income countries. After 12 years of this initiative, 33 countries have qualified for HIPC assistance. Debt relief, associated with HIPC and the Multilateral Debt Relief Initiative (MDRI), introduced in 2005, amounts to US$117 billion in nominal terms, benefiting 33 countries - an amount that represents about 50 percent of these countries 2007 GDP.This book assesses the implications of debt relief for low-income countries and how the benefits from debt relief can be preserved in the future. It examines key question related to debt relief, debt sustainability and debt...