Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
How Did Highly Indebted Poor Countries Become Highly Indebted Reviewing Two Decades Of Debt Relief
Download How Did Highly Indebted Poor Countries Become Highly Indebted Reviewing Two Decades Of Debt Relief full books in PDF, epub, and Kindle. Read online How Did Highly Indebted Poor Countries Become Highly Indebted Reviewing Two Decades Of Debt Relief ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
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 How Did Highly Indebted Poor Countries Become Highly Indebted? Reviewing Two Decades of Debt Relief by : William Easterly
Download or read book How Did Highly Indebted Poor Countries Become Highly Indebted? Reviewing Two Decades of Debt Relief written by William Easterly and published by . This book was released on 2004 with total page 0 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. How did highly indebted poor countries become highly indebted after two decades of debt relief efforts? A set of theoretical models predict that countries with unchanged long-run savings preferences will respond to debt relief with a mixture of asset decumulation and new borrowing. A model also predicts that a high-discount-rate government will choose poor policies and impose its intertemporal preferences on the entire economy. Reviewing the experience of highly indebted poor countries, compared with that of other developing countries, Easterly finds direct and indirect evidence of asset decumulation and new borrowing associated with debt relief. The ratio of the net present value of debt to exports rose strongly over 1979-97 despite the debt relief efforts. Average policies in highly indebted poor countries were generally worse than those in other developing countries, controlling for income. The trend for terms of trade was no different in highly indebted poor countries than in other developing countries, not were wars more likely in highly indebted poor countries. Over time there has been an important shift in financing for highly indebted poor countries, away from private and bilateral nonconcessional sources to the International Development Association and other sources of multilateral concessional financing. But this implicit form of debt relief also failed to reduce debt in net present value terms. Although debt relief is done in the name of the poor, the poor are worse off if debt relief creates incentives to delay reforms needed for growth. This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study the effectiveness of aid for growth.
Book Synopsis How Dit Highly Indebted Poor Countries Become Highly Indebted? by : William Easterly
Download or read book How Dit Highly Indebted Poor Countries Become Highly Indebted? written by William Easterly and published by . This book was released on 2003 with total page 39 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 Palgrave Macmillan. This book was released on 2004-06-11 with total page 324 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 Debt Relief and Beyond by : Carlos A. Primo Braga
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.
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 Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Book Synopsis From Toronto Terms to the HIPC Initiative by : Ms.Christina Daseking
Download or read book From Toronto Terms to the HIPC Initiative written by Ms.Christina Daseking and published by International Monetary Fund. This book was released on 1999-10-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The low-income country debt crisis had its origins in weak macroeconomic policies, and official creditors’ willingness to take risks unacceptable to private lenders. Payments problems were initially addressed through nonconcessional reschedulings and new lending that maximized financing while containing the budgetary costs for creditors. This led to an unsustainable buildup in debt stocks. More recently, debt ratios have improved, reflecting both adjustment and substantial debt relief. The paper estimates debt relief initiatives since 1988 have cost creditors at least $30 billion, and possibly much more. This compares with the estimated costs of about $27 billion under the enhanced HIPC Initiative.
Book Synopsis Debt Relief for the Poorest by : Shonar Lala
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 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Heavily Indebted Poor Countries (HIPC) Debt Initiative was established by the World Bank and the International Monetary Fund in 1996, in order to relieve the high external debt of some of the world's poorest nations. The initiative seeks to provide a permanent end to debt rescheduling, promote growth and release resources for social policies targeted at poverty reduction, as part of the overall development assistance framework. This publication updates progress made under the initiative since the evaluation undertaken in March 2003 ('Debt relief for the poorest: an OED review of the HIPC initiative") (ISBN 082135521X). 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. The study concludes that debt reduction alone is not a sufficient instrument to affect the multiple drivers of debt sustainability, as 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.
Book Synopsis Developing Countries by : U S Government Accountability Office (G
Download or read book Developing Countries written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO reviewed the: (1) implementation of the Heavily Indebted Poor Countries (HIPC) Debt Initiative; and (2) initiative's potential to achieve its stated goal of bringing poor countries' debts to sustainable levels. GAO noted that: (1) the HIPC initiative will help reduce participating poor countries' debt burdens, in some cases, substantially; however, many will remain vulnerable to future debt problems even with sound economic policies; (2) the implementation of the HIPC initiative reflects compromise among the major official creditors on issues such as countries' eligibility and the total amount of debt relief to be provided; (3) in recognition of countries' economic vulnerablities, creditors have generally agreed on relief amounts that are at or close to the upper bounds of what the negotiated framework allows; (4) nonetheless, in order to avoid further debt problems, countries receiving debt relief through the HIPC initiative are assumed to maintain strong economic performance and continue to receive large amounts of donor assistance; (5) in most cases this assistance includes balance-of-payments support; (6) the HIPC initiative projections assume that countries will maintain sustainable debt levels in part through strong export growth; (7) these export growth assumptions may be optimistic for some countries; and (8) since many HIPC recipients rely upon a few commodities for their export earnings, they are particularly vulnerable to economic events such as a decline in the price or output of a primary export.
Book Synopsis Debt Relief for Poor Countries (Hardback). by : Tony Addison
Download or read book Debt Relief for Poor Countries (Hardback). written by Tony Addison and published by . This book was released on 2014 with total page 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 The Enhanced Heavily Indebted Poor Countries (HIPC) Initiative and the Achievement of Long-Term External Debt Sustainability by : International Monetary Fund
Download or read book The Enhanced Heavily Indebted Poor Countries (HIPC) Initiative and the Achievement of Long-Term External Debt Sustainability written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-04-15 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: NULL
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 Debt Relief for Heavily Indebted Poor Countries by :
Download or read book Debt Relief for Heavily Indebted Poor Countries written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades, the rapid growth in poor country debt has emerged as a key foreign policy concern. Many analysts believe that this debt burden is an impediment to economic growth and poverty reduction. Others contend that for the poorest countries, other factors such as weak political and economic institutions, are a greater impediment to growth than the debt burden. No congressional appropriations are required at this time to implement the G8 proposal. However, additional U.S. funds may need to be appropriated in the future to fund higher levels of HIPC debt relief. This report will no longer be updated. For information on the current status of the G8 debt relief proposal, see CRS Report RS22534, The Multilateral Debt Relief Initiative, by Martin A. Weiss.
Book Synopsis Debt Relief for Highly Indebted Poor Countries by : Amalgamated Banks of South Africa
Download or read book Debt Relief for Highly Indebted Poor Countries written by Amalgamated Banks of South Africa and published by . This book was released on 1999 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Sovereign Debt Restructurings 1950-2010 by : Mr.Udaibir S. Das
Download or read book Sovereign Debt Restructurings 1950-2010 written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2012-08-01 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analyzes recent restructuring episodes, and discusses ongoing debates on crisis resolution mechanisms, credit default swaps, and the role of collective action clauses.
Book Synopsis Delivering on Debt Relief by : Nancy Birdsall
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?
