Debt Relief. Nicholas Dossett & Rachel Miller November 20 th , 2013. What is Debt Relief?. From Google: A partial or total remission of debts, especially those owed by developing countries to external creditors. What does this mean?. 4 International Institutions. The World Bank Group
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Nicholas Dossett & Rachel Miller
November 20th, 2013
From Google: A partial or total remission of debts, especially those owed by developing countries to external creditors.
What does this mean?
The World Bank Group
The International Monetary Fund
The United Nations
The African Development Fund
2 Major Initiatives
The Heavily Indebted Poor Countries Initiative (HIPC)
The Multilateral Debt Relief Initiative
How are they different?
First step: Decision point
1. Eligible to borrow from the IDA & the IMF’s Poverty Reduction and Growth Trust
2. Face an unsustainable debt burden
3. Established a track record of reform and sound policies
4. developed Poverty Reduction Strategy Paper through a broad-based participatory process
When a country reaches its decision point it may immediately begin receiving interim debt relief
Second Step: Completion Point
Establish a further track record of good performance
Implement satisfactorily key reforms agreed upon at the decision point
Adopt and implement its PRSP for at least 1 year
When a country reaches its completion point it is allowed to receive its full debt relief committed at the decision point
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Casse, Thorkil, and Stig Jensen. "Do We Understand The Linkages Between Economic Growth, Poverty Targets And Poverty Reduction?." Review Of African Political Economy 36.122 (2009): 539-553. Business Source Complete. Web. 19 Nov. 2013.
Harsch, Ernest. "Burkina Faso In The Winds Of Liberalisation." Review Of African Political Economy 25.78 (1998): 625. Business Source Complete. Web. 19 Nov. 2013.