Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/52802
Authors: 
European Network on Debt and Development
Year of Publication: 
2001
Series/Report no.: 
WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/110
Abstract: 
This paper reviews the main obstacles to human and social development posed by the current external debt burdens of the least development countries. In particular, it analyses the shortcomings of the mechanisms and thresholds used to assess the sustainability of debt levels in the HIPC Initiative. An alternative needs-based approach analysis of debt sustainability is proposed. The methodology explicitly emphasizes the need to prioritize poor countries’ social and poverty reducing expenditures over external debt servicing. Such an ‘affordable debt service’ analysis of debt sustainability shows clearly that additional debt reduction is required if the HIPCs are to achieve minimum levels of human development by 2015. – debt ; poverty ; economic development ; foreign aid ; debt sustainability
JEL: 
F34
F35
O19
O55
ISBN: 
9291900435
Document Type: 
Working Paper

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