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Debt Relief For The Poorest Countries
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Book Synopsis Debt Relief for the Poorest Countries by : Yiagadeesen Samy
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 264 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.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :9781589064676 Total Pages :20 pages Book Rating :4.0/5 (646 download)
Book Synopsis Can Debt Relief Boost Growth in Poor Countries? by : International Monetary Fund
Download or read book Can Debt Relief Boost Growth in Poor Countries? written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-09-09 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.
Book Synopsis Debt Relief for the Poorest Countries by : John Serieux
Download or read book Debt Relief for the Poorest Countries written by John Serieux and published by Transaction Pub. This book was released on 2003 with total page 262 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.
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 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 480 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 Can Debt Relief Boost Growth in Poor Countries? by : Benedict J. Clements
Download or read book Can Debt Relief Boost Growth in Poor Countries? written by Benedict J. Clements and published by . This book was released on 2005 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world's poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries' impact of debt on poor is scant. This pamphlet presents the findings of the authors' empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.
Book Synopsis Debt Relief for the Poorest by : Madhur Gautam
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.
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 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.
Book Synopsis Can Debt Relief Boost Growth in Poor Countries? by : Benedict J. Clements
Download or read book Can Debt Relief Boost Growth in Poor Countries? written by Benedict J. Clements and published by International Monetary Fund. This book was released on 2005 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world’s poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries’ impact of debt on poor is scant. This pamphlet presents the findings of the authors’ empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries.
Book Synopsis The Crisis of Poverty and Debt in the Third World by : Martin Dent
Download or read book The Crisis of Poverty and Debt in the Third World written by Martin Dent and published by Routledge. This book was released on 2019-05-23 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this volume, the first to be published in on Jubilee 2000, describes the plight of 52 of the poorest nations in the world and puts in detail the case for radical cancellation of past inert debt. The cost and benefit of this remission and the groundbreaking concordat of peoples and governments that could accompany it are examined in detail. It contains critiques of the economic bases of the World Bank and IMF approaches to debt management in developing economies, as manifested in structural adjustment programmes and their maintenance, misuse of excess reserves and the methods used to carry out restructuring and development projects. The British anti-slavery campaign saw a mobilisation of public opinion for a great cause. Using this as a source of inspiration, public opinion must again be mobilised for what amounts to the greatest opportunity for justice, compassion and forgiveness facing us all at the beginning of a new millennium.
Book Synopsis Developing Countries by : Thomas Melito
Download or read book Developing Countries written by Thomas Melito and published by DIANE Publishing. This book was released on 2009-05 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2005, the Multilateral Debt Relief Initiative (MDRI) eliminated debt owed to 4 international financial institutions: the International Monetary Fund (IMF), World Bank's International Dev¿t. Assoc., African Dev¿t. Fund, and Inter-American Dev¿t. Bank. These 4 Inyernational Financial Institutionss are projected to provide $58 billion in total debt relief to 41 countries. This report: (1) analyzed the U.S. financing approach for debt relief efforts; (2) reviewed the extent to which MDRI might affect resources available to countries for poverty-reducing activities; and (3) assessed revisions to the analyses conducted by the World Bank and IMF to review and promote future debt sustainability. Includes recommendations. Charts and tables.
Book Synopsis Can Debt Relief Boost Growth in Poor Countries? by : Benedict J. Clements
Download or read book Can Debt Relief Boost Growth in Poor Countries? written by Benedict J. Clements and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Developing Countries by : Thomas Melito
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.
Book Synopsis The Dynamic Implications of Debt Relief for Low-Income Countries by : Mr.Ales Bulir
Download or read book The Dynamic Implications of Debt Relief for Low-Income Countries written by Mr.Ales Bulir and published by International Monetary Fund. This book was released on 2011-07-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors and recipients. Using a dynamic stochastic general equilibrium model of a small open economy with a minimum consumption requirement and an endogenous relief probability, we show that excessive debt accumulation is consistent with an anticipation of a future debt relief. Simulations of the calibrated model using 1982-2006 Ugandan data suggest that debt-relief episodes are likely to have only a temporary impact on the level of debt in low-income countries, while being associated with more consumption and less invesment. The long-run debt-to-GDP ratio is estimated to be about twice as high with debt relief than without it.
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 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 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.
