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Analytical Aspects Of The Debt Problems Of Heavily Indebted Poor Countries
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Book Synopsis Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries by : S. M. Ravi Kanbur
Download or read book Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries written by S. M. Ravi Kanbur and published by World Bank Publications. This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: June 1996 A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
Book Synopsis Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries by : Stijn Claessens
Download or read book Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries written by Stijn Claessens and published by World Bank Publications. This book was released on 1996 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries by : Ravi Kanbur
Download or read book Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries written by Ravi Kanbur and published by . This book was released on 2016 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: A group of heavily indebted low-income countries (HIPCs), most in Sub-Saharan Africa, has continued to experience external debt problems. Because the HIPCs' economic characteristics and external imbalances are very different from those of middle-income countries, the analysis of debt problems and debt-reduction must be modified and complemented in important ways. Therefore, the authors revisit the methodological issues underlying debt sustainability analysis, as well as theory and empirical evidence on how large debts affect economic performance. Their main question is: Should consideration be given to more upfront debt reduction for HIPCs, over and above that provided under current mechanisms, or should debts continue to be refinanced, subject to conditionality? Ongoing refinancing with conditionality reduces moral hazard and gives countries an incentive to maintain good policies. However, this approach entails transition costs, can create uncertainty, may lack credibility, and can impede local ownership of reform programs. Upfront debt reduction can create moral hazard problems and may weaken the incentives for maintaining sound policy. There are theoretical arguments about why a high level of debt can impede investment and policy reform. Although empirical evidence concerning the hypothesis that HIPCs suffer significant adverse effects from their large debt overhang is inconclusive, evidence from middle-income countries suggests that debt reduction can benefit an economy if the policy environment is right. Whether there should be further debt reduction for specific heavily indebted low-income countries depends on the facts for each case and requires quantitative analysis of data about different forces at play in the countries involved.
Book Synopsis Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries by :
Download or read book Analytical Aspects of the Debt Problems of Heavily Indebted Poor Countries written by and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Debt Relief for Poor Countries by : T. Addison
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.
Book Synopsis Chad by : International Monetary Fund. African Dept.
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.
Book Synopsis Developing Countries by : United States. General Accounting Office
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:
Book Synopsis How Did Highly Indebted Poor Countries Become Highly Indebted? by : William Russell Easterly
Download or read book How Did Highly Indebted Poor Countries Become Highly Indebted? written by William Russell Easterly and published by World Bank Publications. This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief by running up new debts or by running down assets. And there are some signs that incremental debt relief over the past two decades has fulfilled those predictions. Debt relief is futile for countries with unchanged long-run savings preferences.
Book Synopsis Debt Relief for Low-Income Countries and the HIPC Initiative by : Mr.Anthony R. Boote
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.
Book Synopsis Debt Relief Initiatives by : Marco Arnone
Download or read book Debt Relief Initiatives written by Marco Arnone and published by Routledge. This book was released on 2016-05-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the recent debt crises in developing countries and analyzes the design and implementation of the Heavily Indebted Poor Countries (HIPC) Initiative, by providing background concepts, pointing out the main drawbacks and suggesting a different approach to debt sustainability and debt relief programs. The authors merge academic, operational and institutional expertise, in order to provide an evaluation as complete and balanced as possible on the much-debated effectiveness of debt relief in fostering economic growth, reducing poverty and reaching debt sustainability. Marco Arnone and Andrea F. Presbitero assess the joint evolution of external and domestic public debt and produce original empirical evidence on the potential effects of public debt on investment, economic growth and institution-building in low- and middle-income countries. The book also explores relevant and up-to-date policy issues, such as the loans-grants mix and the development of responsible lending strategies in foreign assistance, the surge of non-concessional and domestic borrowing by low-income countries, and the impact of the 2008-2009 global financial crisis on debt sustainability.
Book Synopsis Debt Sustainability Analysis for the Heavily Indebted Poor Countries by :
Download or read book Debt Sustainability Analysis for the Heavily Indebted Poor Countries written by and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Heavily Indebted Poor Countries Initiative - Status of Implementation by : International Monetary Fund
Download or read book Heavily Indebted Poor Countries Initiative - Status of Implementation written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-08-19 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reviews progress and issues in implementing the enhanced HIPC Initiative. In addition to updating information on the delivery of HIPC debt relief and its estimated costs, it discusses two particular issues: the decline in the participation of commercial and non-Paris Club bilateral creditors to the Initiative; and the preliminary list of countries that satisfy the indebtedness eligibility criterion under the extended HIPC sunset clause.
Book Synopsis Analytical History of Heavily Indebted Poor Country (HIPC) Debt Sustainability Targets by : Peter Hjertholm
Download or read book Analytical History of Heavily Indebted Poor Country (HIPC) Debt Sustainability Targets written by Peter Hjertholm and published by . This book was released on 2000 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa by : Simeon Inidayo Ajayi
Download or read book An Analysis of External Debt and Capital Flight in the Severely Indebted Low Income Countries in Sub-Saharan Africa written by Simeon Inidayo Ajayi and published by International Monetary Fund. This book was released on 1997-06 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African debt crisis, like its Latin American counterpart, started in the early 1980s and is not yet over! Debt was big news in the 1980s when the international financial system appeared threatened by the heavy indebtedness of a number of developing countries. More recently, the external debt of a group of 41 countries referred to as heavily-indebted poor countries (HIPCs), 32 of which are classified as severely indebted has been receiving increased attention. Most of the severely indebted low income countries which have been having problems managing their debt service obligations are in sub-Saharan Africa. 2 As a matter of fact, over the last one and a half decades, the external debt burden in many of the countries in this group has worsened, and the problem, if anything, has become even more serious. Debt ratios indicate that the overall external debt has become so large relative to the economic size of these countries and relative to export earnings that it would be impossible to pay a significant part of it in the short run without the imposition of what amounts to an impossible burden on those nations (Hope, Sr., 1996).
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451822960 Total Pages :73 pages Book Rating :4.8/5 (229 download)
Book Synopsis Liberia: Enhanced Initiative for Heavily Indebted Poor Countries - Decision Point Document, Debt Sustainability Analysis, and Staff Supplement by : International Monetary Fund
Download or read book Liberia: Enhanced Initiative for Heavily Indebted Poor Countries - Decision Point Document, Debt Sustainability Analysis, and Staff Supplement written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-03-20 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an assessment of Liberia's eligibility and qualification for assistance under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The macroeconomic framework underlying the Debt Relief Analysis (DRA) in this paper was updated to reflect discussions on the policy framework underlying a proposed three-year Poverty Reduction and Growth Facility/Extended Fund Facility (PRGF/EFF)-supported program. Finally, this study discusses the floating completion point triggers. Fiscal policy has been anchored on a balanced cash-based budget. The government has also implemented other measures to address long-standing problems in financial management and economic governance.
Book Synopsis External Debt and Growth in Heavily Indebted Poor Countries by : Keith Lloyd Cuthbert
Download or read book External Debt and Growth in Heavily Indebted Poor Countries written by Keith Lloyd Cuthbert and published by . This book was released on 2004 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Heavily Indebted Poor Countries Debt Strategy and Analysis Capacity-Building Programme by : Matthew Martin
Download or read book Heavily Indebted Poor Countries Debt Strategy and Analysis Capacity-Building Programme written by Matthew Martin and published by . This book was released on 2001 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
