Debt Relief, Additionality, and Aid Allocation in Low Income Countries
Debt Relief, Additionality, and Aid Allocation in Low Income Countries

Author: Mr.Robert Powell

Publisher: International Monetary Fund

Published: 2003-09-01

Total Pages: 22

ISBN-13: 1451858779

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This paper models the resource implications of debt relief provided to low-income countries (LICs). Obtaining debt relief does not necessarily lead to individual aid-dependent countries receiving more overall resources from the donor community. Preliminary cross-section estimates suggest that debt relief provided to low-income countries in the period 1996 2000 neither crowded out other non-debt relief-related aid flows to the debtors concerned nor created significant extra net resources for those countries. While it is too early to fully assess the resource implications of the enhanced HIPC Initiative, this paper provides a possible approach to such an evaluation.

Delivering on Debt Relief
Delivering on Debt Relief

Author: Nancy Birdsall

Publisher: Columbia University Press

Published: 2002-04-17

Total Pages: 179

ISBN-13: 0881324450

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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?

The Dynamic Implications of Debt Relief for Low-Income Countries
The Dynamic Implications of Debt Relief for Low-Income Countries

Author: Mr.Ales Bulir

Publisher: International Monetary Fund

Published: 2011-07-01

Total Pages: 27

ISBN-13: 1455293717

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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.

Assessing Aid
Assessing Aid

Author:

Publisher: World Bank Publications

Published: 1998

Total Pages: 164

ISBN-13: 9780195211238

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Assessing Aid determines that the effectiveness of aid is not decided by the amount received but rather the institutional and policy environment into which it is accepted. It examines how development assistance can be more effective at reducing global poverty and gives five mainrecommendations for making aid more effective: targeting financial aid to poor countries with good policies and strong economic management; providing policy-based aid to demonstrated reformers; using simpler instruments to transfer resources to countries with sound management; focusing projects oncreating and transmitting knowledge and capacity; and rethinking the internal incentives of aid agencies.

Debt Swaps for Sustainable Development
Debt Swaps for Sustainable Development

Author: Dr. Jürgen Kaiser

Publisher: Iucn

Published: 1996

Total Pages: 76

ISBN-13:

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This publication is aimed at helping IUCN's members to understand the scope and mechanisms of debt conversion and to spot opportunities for their own action in this important field.

IMF Macroeconomic Research on Low-Income Countries
IMF Macroeconomic Research on Low-Income Countries

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2004-01-30

Total Pages: 130

ISBN-13: 9781589062733

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Summarizes the for ward-looking analytical work program on macroeconomic issues related to the Poverty Reduction Strategy Paper approach. The program is evolving through a process that began with a technical workshop; participants from low-income countries, donors, academia, and civil society drafted guidance on selected issues and identified priority research topics. Partners, policymakers, and economic scholars are encouraged to share their perspectives and findings through respective team leaders, whose e-mail addresses are provided. The publication also summarizes IMF analytical work, and contains a bibliography of nearly 1,000 papers.

The Impact of International Debt Relief
The Impact of International Debt Relief

Author: A. Geske Dijkstra

Publisher: Routledge

Published: 2007-11-29

Total Pages: 159

ISBN-13: 1134121636

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International debt relief continues to be a highly controversial subject. Although many heavily indebted poor countries have received large amounts of debt relief over the past quarter of a century, it doesn’t appear to be enough. This book examines the impact of international debt relief efforts since 1990. It assesses whether the various debt relief modalities have enhanced economic growth in eight highly indebted countries in Latin America and Africa. Dijkstra argues that fundamental changes of the international aid and debt architecture are necessary to stop the flow of new multilateral loans and the possible perverse effects of conditionality.

Debt Relief for the Poorest
Debt Relief for the Poorest

Author: Shonar Lala

Publisher: World Bank Publications

Published: 2006-01-01

Total Pages: 98

ISBN-13: 0821366572

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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.