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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)

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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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Publisher Info
Article provided by Blackwell Publishing 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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  1. Nicolas Depetris Chauvin & Aart Kraay, 2005. "What Has 100 Billion Dollars Worth of Debt Relief Done for Low- Income Countries?," International Finance 0510001, EconWPA. [Downloadable!]
  2. Johansson, Pernilla, 2008. "Debt Relief, Investment and Growth," Working Papers 2008:11, Lund University, Department of Economics. [Downloadable!]
  3. Abrego, Lisandro & Ross, Doris C., 2002. "Debt Relief under the HIPC Initiative - Context and Outlook for Debt Sustainability and Resource Flows," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  4. Graham Bird, 2004. "Growth, poverty and the IMF," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 621-636. [Downloadable!]
  5. Green, Keith, 2005. "The fragile panacea of debt relief for developing countries," MPRA Paper 18098, University Library of Munich, Germany. [Downloadable!]
  6. Ralf Hepp, 2008. "Can Debt Relief Buy Growth?," Fordham Economics Discussion Paper Series dp2008-22, Fordham University, Department of Economics. [Downloadable!]
    Other versions:
  7. 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. [Downloadable!]
    Other versions:
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