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?
- Cover
- Contents
- Foreword
- Preface
- Chapter 1 Introduction
- Group A versus Group B
- Expanding Debt Relief
- Reinventing the Aid Architecture
- Appendix 1.1 Ten Questions about Debt and Debt Relief
- Chapter 2 The HIPC Initiative: Background and Critiques
- The Heavily Indebted Poor Countries
- Recent Debt Relief Initiatives
- The Enhanced HIPC Framework
- Critiques of the Enhanced HIPC Initiative
- Chapter 3 The Case for More
- Debt Sustainability
- The Millennium Development Goals
- Chapter 4 What Form of More?
- Political Resonance
- Additionality
- Redistribution
- Efficiency
- Country Selectivity
- Summary
- Chapter 5 Deepening and Extending Debt Reduction
- Deeper Relief
- Making More Countries Eligible
- A Contingency Facility
- Financing More Debt Relief
- Chapter 6 A New Aid Architecture
- The HIPC Procedure
- Grants, Not Just Loans
- Incremental Proposals to Increase Donor Accountability
- Donor Incentives for Selectivity
- Exploiting Multilateralism: The Common Pool
- Sovereign Debt: Building on the HIPC Initiative
- Chapter 7 Conclusions
- Whether to Extend More Debt Relief
- How to Extend the HIPC Initiative
- Cost of the Extensions
- Toward a New Aid Architecture
- Appendix A Multilateral Institutions Participating in the HIPC Initiative
- Appendix B Countries Classified by Income
- Appendix C Odious Debt
- Democratic Republic of Congo (Zaire)
- Kenya
- Nicaragua
- Pakistan
- Uganda
- References
- Glossary
- Index
Text
Audio
Adobe DRM
Login to your account