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dc.contributor.authorAbrego, Lisandroen
dc.contributor.authorRoss, Doris C.en
dc.date.accessioned2011-12-14T09:46:22Z-
dc.date.available2011-12-14T09:46:22Z-
dc.date.issued2002-
dc.identifier.isbn929190211Xen
dc.identifier.urihttp://hdl.handle.net/10419/53030-
dc.description.abstractThis paper analyses debt relief efforts by creditors to alleviate the debt burden of lowincome countries. The Heavily Indebted Poor Countries (HIPC) Initiative builds on traditional debt relief, and for the first time involves relief on multilateral debt. It seeks to reduce debt to sustainable levels and eliminate any debt overhang that might hinder growth and investment. It provides substantial debt relief to eligible countries by reducing their overall debt stocks by about one-half, or, together with traditional relief over time, by some 80 per cent. It lowers debt service payments of HIPCs substantially, provides room for increased social spending, and provides a solid basis for debt sustainability. The latter requires efforts by both debtors and creditors. To find poverty reduction efforts, HIPC relief is important, but much broader international support is needed as external transfers to HIPCs in the past far exceeded debt service paid. Experience has shown that external support can only be effective if it reinforces sound policies implemented by HIPCs themselves. Thus debt relief and ODA are most important not in isolation, but as help for self-help.en
dc.language.isoengen
dc.publisher|aThe United Nations University World Institute for Development Economics Research (UNU-WIDER) |cHelsinkien
dc.relation.ispartofseries|aWIDER Discussion Paper |x2002/44en
dc.subject.jelF34en
dc.subject.jelF35en
dc.subject.jelO11en
dc.subject.jelO19en
dc.subject.ddc330en
dc.subject.keyworddebt reliefen
dc.subject.keywordexternal debt sustainabilityen
dc.subject.keywordHIPC Initiativeen
dc.subject.keywordpoverty reductionen
dc.subject.stwAuslandsverschuldungen
dc.subject.stwInternationale Kreditvergabeen
dc.subject.stwSchuldenerlassen
dc.subject.stwArmuten
dc.subject.stwLow-Income Countriesen
dc.titleDebt relief under the HIPC initiative: Context and outlook for debt sustainability and resource flows-
dc.typeWorking Paperen
dc.identifier.ppn348255179en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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