From Toronto Terms To The Hipc Initiative

Author : Ms.Christina Daseking
Publisher : International Monetary Fund
ISBN 13 : 1451856237
Total Pages : 30 pages
Book Rating : 4.31/5 ( download)

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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.

Author : Christina Daseking
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.76/5 ( download)

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Download or read book From Toronto Terms to the HIPC Initiative written by Christina Daseking and published by International Monetary Fund. This book was released on 1999-10 with total page 36 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.

Author : John E. Serieux
Publisher : Transaction Publishers
ISBN 13 : 1412821312
Total Pages : 272 pages
Book Rating : 4.15/5 ( download)

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Download or read book Debt Relief for the Poorest Countries written by John E. Serieux and published by Transaction Publishers. This book was released on with total page 272 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. John Serieux completed this volume as a senior researcher and specialist in international finance for the North-South Institute, an independent research institute based in Ottawa, Canada. Before that he was a lecturer at the graduate program in economics at Chancellor College, at the University of Malawi. His major works are in domestic and foreign resource mobilization. Yiagadeesen Samy is completing his doctoral research in economics at the University of Ottawa in international trade and economics of development. His key interest is now in trade and labor standards.

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 9781557758804
Total Pages : 42 pages
Book Rating : 4.08/5 ( download)

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Download or read book Debt Relief for Low-Income Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-01-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the IMF’s Enhanced Initiative for Heavily Indebted Poor Countries, which provides debt relief for low-income countries. The paper highlights that countries affected by the debt crisis of the 1980s received concerted support from the international financial community in the form of Paris Club flow reschedulings, stock-of-debt operations under the Brady plan, and adjustment programs supported by the multilateral financial institutions. These measures proved effective in significantly improving the debt situation of many middle-income countries.

Author : Michael Johnston
Publisher : University Press of America
ISBN 13 : 9780761831242
Total Pages : 248 pages
Book Rating : 4.4X/5 ( download)

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Download or read book Civil Society and Corruption written by Michael Johnston and published by University Press of America. This book was released on 2005 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strong civil societies play a major role in controlling corruption in many societies, and reformers agree that citizens, both individual and organized, should be involved in reform. But accomplishing that goal has proven difficult. Some civil societies are weak, divided, and impoverished. In others, undemocratic regimes dominate through intimidation. And in still others, development difficulties, international debt, and misguided aid efforts stop reform before it can begin. Too often, anti-corruption campaigns do not engage social values or attack corruption as people experience it every day. This volume, based on a yearlong series of events sponsored by Colgate University's Center for Ethics and World Societies, analyzes civil society and corruption from several perspectives and in several parts of the world. One section considers corruption as a fact of everyday life, a second analyzes techniques and incentives involved in mobilizing civil society, and a third provides a unique guide to information resources on corruption and reform.

Author : Carlos A. Primo Braga
Publisher : World Bank Publications
ISBN 13 : 9780821378755
Total Pages : 480 pages
Book Rating : 4.59/5 ( download)

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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.

Author : Mr.Anthony R. Boote
Publisher : International Monetary Fund
ISBN 13 : 1451844107
Total Pages : 30 pages
Book Rating : 4.08/5 ( download)

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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.

Author : Thomas Melito
Publisher : DIANE Publishing
ISBN 13 : 9780756703813
Total Pages : 184 pages
Book Rating : 4.16/5 ( download)

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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.

Author : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.95/5 ( download)

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Download or read book Developing Countries written by United States. General Accounting Office and published by . This book was released on 2000 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Andreas Antoniou
Publisher : Commonwealth Secretariat
ISBN 13 : 9780850927757
Total Pages : 150 pages
Book Rating : 4.57/5 ( download)

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Download or read book Long-term Debt Sustainability in Low-income Countries written by Andreas Antoniou and published by Commonwealth Secretariat. This book was released on 2004 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: The publication is a collection of papers on the theme of Long-term Debt Sustainability for HIPC Countries. The publication should prove useful to policy-makers in both advanced and low-income countries and students.