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Debt Relief for Low Income Countries: Is it Effective and Efficient?

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Author Info

  • Graham Bird

    (University of Surrey, UK)

  • Alistair Milne

    (University Business School, London)

Abstract

Although a great deal of attention has been paid to IMF conditionality and to the effects of IMF programmes, relatively little attention has been paid to their completion rate. However, the record is that the clear majority of Fund programmes are uncompleted. Is this a cause for concern and why is it that the completion rate is low? In principle, a number of factors could be at work. Gaining a better understanding of what these are should allow policy reform at the IMF to improve performance. While there are things that we do not know and need to know about programme completion, we know enough to delineate the broad direction that policy should take. Copyright Blackwell Publishing Ltd 2003

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Bibliographic Info

Article provided by Wiley Blackwell in its journal The World Economy.

Volume (Year): 26 (2003)
Issue (Month): 1 (January)
Pages: 43-59

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Handle: RePEc:bla:worlde:v:26:y:2003:i:1:p:43-59

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Cited by:
  1. Powell, Robert & Bird, Graham, 2010. "Aid and Debt Relief in Africa: Have They Been Substitutes or Complements?," World Development, Elsevier, Elsevier, vol. 38(3), pages 219-227, March.
  2. Freytag, Andreas & Pehnelt, Gernot, 2009. "Debt Relief and Governance Quality in Developing Countries," World Development, Elsevier, Elsevier, vol. 37(1), pages 62-80, January.
  3. Mayr, Karin, 2010. "Optimal Deficit and Debt in the Presence of Foreign Aid," World Development, Elsevier, Elsevier, vol. 38(1), pages 19-27, January.
  4. Presbitero, Andrea F., 2008. "The Debt-Growth Nexus in Poor Countries: A Reassessment," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 2(30), pages 1-28.
  5. Nicolas Depetris Chauvin & Aart Kraay, 2005. "What Has 100 Billion Dollars Worth of Debt Relief Done for Low- Income Countries?," International Finance, EconWPA 0510001, EconWPA.
  6. Sanford, Jonathan E., 2004. "IDA Grants and HIPC Debt Cancellation: Their Effectiveness and Impact on IDA Resources," World Development, Elsevier, Elsevier, vol. 32(9), pages 1579-1607, September.
  7. Abrego, Lisandro & Ross, Doris C., 2002. "Debt Relief under the HIPC Initiative - Context and Outlook for Debt Sustainability and Resource Flows," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  8. Ralf Hepp, 2005. "Can Debt Relief Buy Growth?," International Finance, EconWPA 0510003, EconWPA.
  9. Silvia Marchesi & Alessandro Missale, 2012. "Did high debts distort loans and grants allocation to IDA countries?," Working Papers, University of Milano-Bicocca, Department of Economics 226, University of Milano-Bicocca, Department of Economics, revised Aug 2012.
  10. Johansson, Pernilla, 2008. "Debt Relief, Investment and Growth," Working Papers, Lund University, Department of Economics 2008:11, Lund University, Department of Economics.
  11. William Akoto, 2013. "Do countries strategically improve their institutions to access increased debt relief?," Economics Bulletin, AccessEcon, vol. 33(2), pages 1185-1192.
  12. Ferrarini, Benno, 2008. "Proposal for a Contingency Debt Sustainability Framework," World Development, Elsevier, Elsevier, vol. 36(12), pages 2547-2565, December.
  13. Green, Keith, 2005. "The fragile panacea of debt relief for developing countries," MPRA Paper 18098, University Library of Munich, Germany.
  14. Graham Bird, 2004. "Growth, poverty and the IMF," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 621-636.
  15. Johansson, Pernilla, 2010. "Debt Relief, Investment and Growth," World Development, Elsevier, Elsevier, vol. 38(9), pages 1204-1216, September.
  16. Gunter, Bernhard G. & Rahman, Jesmin & Wodon, Quentin, 2008. "Robbing Peter to Pay Paul? Understanding Who Pays for Debt Relief," World Development, Elsevier, Elsevier, vol. 36(1), pages 1-16, January.
  17. Cordella, Tito & Missaley, Alessandro, 2011. "To give or to forgive ? aid versus debt relief," Policy Research Working Paper Series 5859, The World Bank.

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