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Debt Relief for Poor Countries: Rationale and Expectations

2. Slide 1: Main Arguments for Debt Relief to Poor Countries. Moral argumentFinancing argumentDebt overhang/growth argument?Evergreening"/efficient lending argument. 3. Slide 2: The Moral Argument. Poor countries should not devote scarce resources to pay rich creditorsBut...No debt service mean

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Debt Relief for Poor Countries: Rationale and Expectations

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    1. 1 Debt Relief for Poor Countries: Rationale and Expectations Christina Daseking Deputy Division Chief Policy Development and Review Department, IMF The views expressed in this presentation are those of the author and should not be attributed to the International Monetary Fund, its Executive Board, or its management.

    2. 2 Slide 1: Main Arguments for Debt Relief to Poor Countries Moral argument Financing argument Debt overhang/growth argument “Evergreening”/efficient lending argument

    3. 3 Slide 2: The Moral Argument Poor countries should not devote scarce resources to pay rich creditors But... No debt service means no borrowing Smaller overall aid envelope How pessimistic should we be?

    4. 4 Slide 3: Are poor countries doomed to stay poor?

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