Download or read book Debt Relief for Poor Countries written by T. Addison and published by Springer. This book was released on 2004-06-11 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: After a massive international campaign calling attention to the development impact of foreign debt, the Heavily Indebted Poor Countries (HIPC) initiative is now underway. But will the HIPC Initiative meet its high expectations? Will debt relief substantially raise growth? How do we make sure that debt relief benefits poor people? And how can we ensure that poor countries do not become highly indebted again? These are some of the key policy issues covered in this rigorous and independent analysis of debt, development, and poverty.
Download or read book Developing Countries written by United States. General Accounting Office and published by . This book was released on 1998 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Debt Relief for the Poorest Countries written by Yiagadeesen Samy and published by Routledge. This book was released on 2018-02-06 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debt problems of poor countries are receiving unprecedented attention. Both federal and non-governmental organizations alike have been campaigning for debt forgiveness for poor countries. The governments of creditor nations responded to that challenge at a meeting sponsored by the G-7, International Monetary Fund, and World Bank, all of which upgraded debt relief as a policy priority. Their initiatives provided for generous interpretations of these nations' abilities to sustain debt, gave them opportunities to qualify for debt relief more rapidly, and linked debt relief to broader policies of poverty reduction. Despite this, the crisis has only deepened in the first years of the new millennium. This brilliant group of contributions assesses why this has occurred. In plain language, it considers why debt relief has been so long in coming for poor countries. It evaluates the cost of a persistent overhang in debt for those countries. It also examines, head on, whether enhanced debt relief initiatives offer a permanent exit from over-indebtedness, or are merely a short-term respite. Above all, this volume for the first time addresses the issues on the ground: that is, the views and opinions about debt relief on the part of leaders in advanced nations, and the probability of further support for the most impoverished lands. In this approach, the editors and contributors have made an explicit and successful attempt to be inclusive and relevant at all stages of the analysis. This volume covers the full range of the poorest countries, with contributions by John Serieux, Lykke Anderson and Osvaldo Nina, Befekadu Degefe, Ligia Maria Castro-Monge, and Peter B. Mijumbi. Collectively, they offer a sobering scenario: unless measures are put in place now, in anticipation of further crises, the future of the very poorest nations will remain bleak and troublesome.
Download or read book Debt Relief for the Poorest written by Madhur Gautam and published by World Bank Publications. This book was released on 2003 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Heavily Indebted Poor Countries (HIPC) Debt Initiative was designed to relieve the high external debt of some of the world's poorest nations. The Initiative was put in place by the World Bank and the International Monetary Fund (IMF) in 1996 and enhanced in 1999. The HIPC Debt Initiative addresses a key obstacle to economic growth and poverty reduction, but it also contains multiple and overly-ambitious objectives. This work is an independent evaluation which assesses the progress and prospects of the HIPC Debt Initiative achieving its objectives.
Download or read book Developing Countries written by Harold J. Johnson and published by DIANE Publishing. This book was released on 1999-04 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1996 the World Bank and the International Monetary Fund, in response to a call from the leaders of the major industrial nations for a comprehensive approach to the debt problems of the poorest countries, proposed the Heavily Indebted Poor Countries (HIPC) Debt Initiative. The initiative reflects concerns of creditors, including the U.S., that, even after receiving debt relief through existing mechanisms, some poor countries will have debt burdens that remain too large relative to their ability to pay. This report: (1) describes the implementation of the HIPC initiative and (2) assesses the initiative's potential to achieve its stated goal. Charts and tables.
Download or read book Chad written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-05-13 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the status of Chad under Enhanced Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). Chad does not qualify for topping-up under the Enhanced HIPC Initiative based on end-2013 debt data. Creditors accounting for more than 87 percent of total HIPC-eligible debt have given satisfactory assurances of their participation in the enhanced HIPC Initiative. Nearly all multilateral creditors and Paris Club creditors have agreed to participate. The authorities are working toward obtaining participation of all the remaining creditors. Upon reaching the completion point under the Enhanced HIPC Initiative, Chad will also qualify for additional debt relief under the MDRI.
Download or read book Debt Relief and Beyond written by Carlos A. Primo Braga and published by World Bank Publications. This book was released on 2009-10-02 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: The history of debt relief goes back several decades. It reveals that a country s accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened countries with the opportunity for a fresh start, but whether the benefits of debt relief can be preserved depends on transformations in a country s policies and institutions. In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was launched as the first comprehensive, multilateral, debt-relief framework for low-income countries. In 2005, the Multilateral Debt Relief Initiative was established, which increased the level of debt relief provided to HIPCs. As of early 2009, assistance through these two initiatives had been committed to 35 countries and amounted to US$117 billion in nominal terms, or half of the 2007 GDP of these countries. 'Debt Relief and Beyond' assesses the implications of debt relief for low-income countries and how its benefits can be preserved and used to fight poverty. The chapter authors bring unique operational experience to their examination of debt relief, debt sustainability, and debt management. Several key questions are addressed, including, what consequences does debt relief have for poverty-reducing expenditures, growth, and access to finance? Can debt relief guarantee debt sustainability? How can debt management at all levels of government be improved? What lessons can be learned from countries that have experienced debt restructuring? Finally, this book provides sound empirical evidence using current econometric techniques.
Download or read book Chad written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2015-05-13 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the status of Chad under Enhanced Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). Chad does not qualify for topping-up under the Enhanced HIPC Initiative based on end-2013 debt data. Creditors accounting for more than 87 percent of total HIPC-eligible debt have given satisfactory assurances of their participation in the enhanced HIPC Initiative. Nearly all multilateral creditors and Paris Club creditors have agreed to participate. The authorities are working toward obtaining participation of all the remaining creditors. Upon reaching the completion point under the Enhanced HIPC Initiative, Chad will also qualify for additional debt relief under the MDRI.
Download or read book Developing Countries written by Thomas Melito and published by DIANE Publishing. This book was released on 2000-11 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1996, the World Bank & the Internat. Monetary Fund (IMF) agreed to undertake a comprehensive approach, called the Heavily Indebted Poor Countries Initiative (HIPCI), for providing debt relief to the poorest & most indebted countries in the world. In Sept. 1999 the World Bank & the IMF agreed to enhance this initiative. This report: (1) assesses whether the enhanced HIPCI is likely to free up resources for poverty reduction & achieve the goal of debt sustainability; (2) describes the strategy to strengthen the link between debt relief & poverty reduction & how this strategy is to be implemented; & (3) describes the challenges creditors face in funding the 1999 initiative. Charts & tables.
Download or read book Delivering on Debt Relief written by Nancy Birdsall and published by Columbia University Press. This book was released on 2002-04-17 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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?
Download or read book Heavily Indebted Poor Countries Initiative Delivery of Debt Relief by Non Paris Club Official Bilateral Creditors written by International Monetary Fund and published by International Monetary Fund. This book was released on 2007-07-11 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: The table provides information on HIPC (Heavily Indebted Poor Country) Initiative debt relief provided by each non-Paris Club official bilateral creditor to post-completion point HIPCs. It tracks the HIPC Initiative debt relief granted by these creditors so far. The table will be updated annually in the context of the "HIPC Initiative Status of Implementation Report." It will also be updated when creditors and debtors provide comprehensive information for updating the estimates of HIPC Initiative debt relief provided.
Download or read book Sudan written by International Monetary and published by International Monetary Fund. This book was released on 2021-03-26 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sudan, with the support of the international community, is seeking to implement an ambitious reform program to address major macroeconomic imbalances and support sustainable, inclusive growth. A new transitional government was established in the wake of the 2019 revolution with the mandate to carry out sweeping reforms to reverse decades of economic and social decline. The government is pursuing a transformational reform agenda focused on: (i) achieving internal peace based on inclusion, regional equity, and justice; (ii) stabilizing the economy and correcting the large macroeconomic imbalances; and (iii) providing a foundation for future rapid growth, development, and poverty reduction. The government has achieved important milestones, most prominently a peace agreement with almost all internal armed opposition groups in October 2020 to end 17 years of conflict. It has also agreed to ambitious reforms and policy adjustments in the context of an International Monetary Fund (IMF) Staff Monitored Program (SMP) that meets the Upper Credit Tranche (UCT) conditionality standard and an International Development Association (IDA) Development Policy Financing (DPF) operation. Furthermore, on December 14, 2020, Sudan was officially removed from the United States State Sponsors of Terrorism List (SSTL), ending almost three decades of international isolation. While positive changes are underway, political contestation over power sharing arrangements remains acute. It is critical for Sudan to take advantage of a still favourable political economy to tackle its macroeconomic imbalances and put itself on a sustainable development trajectory.
Download or read book Debt Relief for Low Income Countries and the HIPC Initiative written by Mr.Anthony R. Boote and published by International Monetary Fund. This book was released on 1997-03-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper describes the debt burden of low-income countries and the traditional mechanisms that have been implemented by the international community to alleviate this burden. While these mechanisms are sufficient to reduce the external debts of many heavily indebted poor countries (HIPCs) to sustainable levels provided these countries implement sound economic policies, they are likely insufficient for a number of countries. To deal with these cases, the World Bank and the IMF have jointly proposed and implemented the HIPC Initiative. The paper describes this Initiative and suggests that it should enable HIPCs to exit from the debt rescheduling process.
Download or read book Heavily Indebted Poor Countries Initiative Statistical Update written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-03-21 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document updates the information provided in the September 2005 Heavily Indebted Poor Countries (HIPC) Initiative – Status of Implementation report. It deals exclusively with the enhanced HIPC Initiative, and does not consider the implications of the Multilateral Debt Relief Initiative (MDRI).
Download or read book Debt Relief for the Poorest written by Shonar Lala and published by World Bank Publications. This book was released on 2006-01-01 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study evaluates progress under the HIPC initiative since IEG's 2003 evaluation. It finds that the Enhanced HIPC initiative cut debt ratios in half for 18 countries, but in eight of these countries, the ratios have come to once again exceed HIPC thresholds. Debt reduction alone is not a sufficient instrument to affect the multiple drivers of debt sustainability. Sustained improvements in export diversification, fiscal management, the terms of new financing, and public debt management are also needed, measures that fall outside the ambit of the HIPC initiative.
Download or read book Sudan Enhanced Heavily Indebted Poor Countries HIPC Initiative Decision Point Document written by International Monetary and published by International Monetary Fund. This book was released on 2021-07 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sudan, with the support of the international community, is implementing an ambitious reform program to address major macroeconomic imbalances and support sustainable, inclusive growth. A new transitional government was established in the wake of the 2019 revolution with the mandate to carry out sweeping reforms to reverse decades of economic and social decline. The government is pursuing a transformational reform agenda focused on: (i) achieving internal peace based on inclusion, regional equity, and justice; (ii) stabilizing the economy and correcting large macroeconomic imbalances; (iii) providing a foundation for future rapid growth, development, and poverty reduction; and (iv) improving governance and transparency.
Download or read book Heavily Indebted Poor Countries HIPC Initiative and Multilateral Debt Relief Initiative MDRI Statistical Update written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-08-06 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews developments in the implementation of the Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). It also provides updates on debt service and poverty-reducing expenditure by beneficiary countries, as well as on the cost of debt relief, creditor participation rates, and litigation against HIPCs.
