Delivering on Debt Relief: From IMF Gold to a New Aid Architecture

Delivering on Debt Relief: From IMF Gold to a New Aid Architecture

by Nancy Birdsall, John Williamson, Brian Deese
     
 

This study brings readers up to date on the complicated and controversial subject of debt relief for the poorest countries of the world. What has actually been achieved? Has debt relief provided truly additional resources to fight poverty? How will the design and timing of the "enhanced Heavily Indebted Poor Country (HIPC) initiative" affect the development

See more details below

Overview

This study brings readers up to date on the complicated and controversial subject of debt relief for the poorest countries of the world. What has actually been achieved? Has debt relief provided truly additional resources to fight poverty? How will the design and timing of the "enhanced Heavily Indebted Poor Country (HIPC) initiative" affect the development prospects of the world's poorest countries and their people? The study then moves on to address several broader policy questions: Is debt relief a step toward more efficient and equitable government spending, building better institutions, and attracting productive private investment in the poorest countries? Who pays for debt relief? Is there a case for further relief? Most important, how can the case for debt relief be sustained in a broader effort to combat poverty in the poorest countries?

Editorial Reviews

Booknews
The first study published by the Institute for the new Center for Global Development, founded in November of 2001. The authors examine the economics of foreign debt and make recommendations for expanding and improving the International Monetary Fund and World Bank endorsed HIPC (heavily indebted poor country) initiative. They argue that the current initiative perversely focuses on improving the performance of recipient countries, failing to address the political and bureaucratic incentives that led donors and creditors to provide unmanageable loans. They recommend expanding debt reduction if debt servicing exceeds two percent of a country's GNP, expanding eligibility for the HIPC Initiative to all low-income countries, and the creation of ten years insurance against being pushed into unsustainability by factors beyond their control. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9780881324457
Publisher:
Peterson Institute for International Economics
Publication date:
04/15/2002
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
2 MB

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >