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External Debt Histories of Ten Low-Income Developing Countries

Ray Brooks
External Debt Histories of Ten Low-Income Developing Countries by Ray Brooks PDF

Author : Ray Brooks
Publisher :
Page : 141 pages
File Size : 40,33 MB
Release : 2006
Category :
ISBN :

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The external debt burden of many low-income developing countries has increased significantly since the 1970s. Developments in a sample of ten countries show that the main factors behind the buildup of debt were (1) exogenous (adverse terms of trade shocks or weather), (2) a lack of sustained macroeconomic adjustment and structural reforms, (3) nonconcessional lending and refinancing policies of creditors, (4) inadequate debt management, and (5) political factors (civil war and social strife). Future policies should limit the need for external financing and create an environment conducive to diversifying export growth, managing debt more prudently, and basing economic projections on more cautious assumptions.

External Debt Histories of Ten Low-Income Developing Countries

Saqib Rizavi
External Debt Histories of Ten Low-Income Developing Countries by Saqib Rizavi PDF

Author : Saqib Rizavi
Publisher : International Monetary Fund
Page : 141 pages
File Size : 47,59 MB
Release : 1998-05-01
Category : Business & Economics
ISBN : 1451849311

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The external debt burden of many low-income developing countries has increased significantly since the 1970s. Developments in a sample of ten countries show that the main factors behind the buildup of debt were (1) exogenous (adverse terms of trade shocks or weather), (2) a lack of sustained macroeconomic adjustment and structural reforms, (3) nonconcessional lending arid refinancing policies of creditors, (4) inadequate debt management, and (5) political factors (civil war and social strife). Future policies should limit the need for external financing and create an environment conducive to diversifying export growth, managing debt more prudently, and basing economic projections on more cautious assumptions.

Are We Heading for Another Debt Crisis in Low-Income Countries? Debt Vulnerabilities: Today Vs the Pre-HIPC Era

Chuku Chuku
Are We Heading for Another Debt Crisis in Low-Income Countries? Debt Vulnerabilities: Today Vs the Pre-HIPC Era by Chuku Chuku PDF

Author : Chuku Chuku
Publisher : International Monetary Fund
Page : 41 pages
File Size : 18,4 MB
Release : 2023-04-04
Category : Business & Economics
ISBN :

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There are growing concerns that 25 years after the launch of the HIPC debt relief initiative, many low-income countries are again facing high debt vulnerabilities. This paper compares debt vulnerabilities in LICs today versus those on the eve of the HIPC Initiative and examines challenges to a similarly designed debt-relief framework. While solvency and liquidity indicators in most LICs have steadily worsened in recent years, they remain substantially better on average than they were on the eve of HIPC in the mid-1990s. This said, if current trends persist, debt vulnerabilities in LICs could (but would not necessarily) reach levels comparable to the pre-HIPC era over the medium- to long-term. Today’s more complex creditor landscape makes coordination challenging. It is therefore essential for countries to reduce today’s debt burdens promptly through economic reform, lowering the cost of financing, and debt restructuring on a case-by-case basis. The international community should also step up efforts to improve debt restructuring processes, including the G20 Common Framework, to ensure that debt relief is delivered in a timely and efficient manner where it is needed.

Debt Relief for Low-Income Countries

International Monetary Fund
Debt Relief for Low-Income Countries by International Monetary Fund PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 42 pages
File Size : 29,29 MB
Release : 1999-01-01
Category : Political Science
ISBN : 9781557758804

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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.

IMF Macroeconomic Research on Low-Income Countries

International Monetary Fund
IMF Macroeconomic Research on Low-Income Countries by International Monetary Fund PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 130 pages
File Size : 31,38 MB
Release : 2004-01-30
Category : Business & Economics
ISBN : 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.

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

Mr.Robert Powell
Debt Relief, Additionality, and Aid Allocation in Low Income Countries by Mr.Robert Powell PDF

Author : Mr.Robert Powell
Publisher : International Monetary Fund
Page : 22 pages
File Size : 45,39 MB
Release : 2003-09-01
Category : Business & Economics
ISBN : 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.

Debt Relief for the Poorest

Madhur Gautam
Debt Relief for the Poorest by Madhur Gautam PDF

Author : Madhur Gautam
Publisher : World Bank Publications
Page : 140 pages
File Size : 44,83 MB
Release : 2003
Category : Business & Economics
ISBN : 9780821355213

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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.

How Did Highly Indebted Poor Countries Become Highly Indebted?

William Russell Easterly
How Did Highly Indebted Poor Countries Become Highly Indebted? by William Russell Easterly PDF

Author : William Russell Easterly
Publisher : World Bank Publications
Page : 44 pages
File Size : 46,39 MB
Release : 1999
Category : Amount Of Debt
ISBN :

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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.