Download Debt Relief for the Poorest: An Evaluation Update of the by Shonar Lala PDF

By Shonar Lala

Some time past decade, debt aid has turn into an more and more major car for providing improvement reduction. This replace builds at the findings of the 2003 self sustaining review of the seriously Indebted negative nations (HIPC) initiative. It reveals that the various unique conclusions stay proper for the HIPC initiative and are very likely instructive for destiny debt reduction projects. the improved HIPC initiative reduce debt ratios in part for 18 international locations. yet in 8 of those nations, the ratios have come to once more exceed HIPC thresholds. Debt aid by myself isn't really a adequate tool to impact the a number of drivers of debt sustainability. Sustained advancements in export diversification, economic administration, the phrases of latest financing, and public debt administration also are wanted, measures that fall open air the ambit of the HIPC initiative. Debt aid below HIPC has channeled extra improvement assets to qualifying nations – those nations have obtained an elevated percentage of total relief transfers. HIPC nations that aren't but at of entirety aspect face severe demanding situations in dealing with their economies. retaining coverage functionality is vital for those international locations to harvest the advantages of debt relief.

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Additional resources for Debt Relief for the Poorest: An Evaluation Update of the HIPC Initiative (Operations Evaluation Studies)

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Floating” Completion Point • Timing of completion point is tied to the implementation of policies determined at the decision point. • All creditors provide the assistance determined at the decision point; interim debt relief provided between decision and completion points counts toward this assistance. • Paris Club goes beyond Naples terms to provide more concessional debt reduction of up to 90 percent in NPV terms (and if needed, even higher) on eligible debt so as to achieve an exit from unsustainable debt.

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 needed, measures that are outside the ambit of the HIPC Initiative. Policy Performance. Countries past completion point started out with higher scores on key policy ratings than other low-income countries and still score higher. Countries that are not yet at completion point—both decision-point and pre-decision-point countries—have, on average, the lowest ratings of all low-income countries and face serious challenges in managing their economies, which will affect their prospects for reaping the potential benefits of debt reduction.

Export Diversification, Highly Concessional Financing, and Prudent Debt Management Are Keys to Long-Term Debt Sustainability in Eight Countries Mauritania remains vulnerable to fiscal policy slippages and external shocks. Ghana’s external debt sustainability hinges strongly on continued access to concessional financing. It is also vulnerable to an export shock if it were to occur concurrently with an import shock. Burkina Faso, Mali, and Tanzania are vulnerable to poor export performance or less favorable terms of donor financing.

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