External Debt in Post-Conflict Countries

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External Debt in Post-Conflict Countries

Author Info

Alvarez-Plata, Patricia
Brück, Tilman

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Tilman Brück

Abstract

Summary In the development literature, there exists no systematic study of external borrowing in post-conflict countries. We address this gap by analyzing statistical and case study evidence from three African countries. We find that many war-affected countries face rising debt arrears and deteriorating relations with creditors. Rebuilding trust between lenders and borrowers is hence a crucial but often slow process. Furthermore, donors to war-affected African countries have been slow to grant exceptional debt relief based on odious debt or on financial requirements. Debt relief for post-conflict reconstruction should embrace a more forward looking and more generous conditionality.

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Article provided by Elsevier in its journal World Development.

Volume (Year): 36 (2008)
Issue (Month): 3 (March)
Pages: 485-504
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Handle: RePEc:eee:wdevel:v:36:y:2008:i:3:p:485-504

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Paper
- Patricia Alvarez-Plata & Tilman Brück, 2006. "External Debt in Post-Conflict Countries," Discussion Papers of DIW Berlin 613, DIW Berlin, German Institute for Economic Research. [Downloadable!]

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Seema Jayachandran, 2004. "Odious Debt," UCLA Economics Online Papers 298, UCLA Department of Economics. [Downloadable!]
Other versions:
- Michael Kremer & Seema Jayachandran, 2002. "Odious Debt," NBER Working Papers 8953, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
- Seema Jayachandran & Michael Kremer, 2006. "Odious Debt," American Economic Review, American Economic Association, vol. 96(1), pages 82-92, March. [Downloadable!]
Collier, Paul & Gunning, Jan Willem, 1995. "War, peace and private portfolios," World Development, Elsevier, vol. 23(2), pages 233-241, February. [Downloadable!] (restricted)
Claessens, Stijn & Detragiache, Enrica & Kanbur, Ravi & Wickham, Peter, 1996. "Analytical aspects of the debt problems of heavily indebted poor countries," Policy Research Working Paper Series 1618, The World Bank. [Downloadable!]
Kapoor, Kapil, 1995. "Restructuring Uganda's debt : the commercial debt buy - back operation," Policy Research Working Paper Series 1409, The World Bank. [Downloadable!]
Peter Hjertholm, 2003. "Theoretical and empirical foundations of HIPC debt sustainability targets," The Journal of Development Studies, Taylor and Francis Journals, vol. 39(6), pages 67-100, January. [Downloadable!] (restricted)
Serkan Arslanalp & Peter Blair Henry, 2004. "Helping the Poor to Help Themselves: Debt Relief or Aid," NBER Working Papers 10230, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Other versions:
- Henry, Peter B. & Arslanalp, Serkan, 2003. "Helping the Poor to Help Themselves: Debt Relief or Aid?," Research Papers 1838, Stanford University, Graduate School of Business. [Downloadable!]
Yan Sun, 2004. "External Debt Sustainability in HIPC Completion Point Countries," IMF Working Papers 04/160, International Monetary Fund. [Downloadable!]
Nancy Birdsall & Stijn Claessens & Ishac Diwan, 2002. "Policy Selectivity Foregone: Debt and Donor Behavior in Africa," Working Papers 17, Center for Global Development. [Downloadable!]
Other versions:
- Nancy Birdsall & Stijn Claessens & Ishac Diwan, 2003. "Policy Selectivity Forgone: Debt and Donor Behavior in Africa," World Bank Economic Review, Oxford University Press, vol. 17(3), pages 409-435, December.
Alina Kudina & Annalisa Fedelino, 2003. "Fiscal Sustainability in African HIPC Countries: A Policy Dilemma?," IMF Working Papers 03/187, International Monetary Fund. [Downloadable!]
Sanford, Jonathan E., 2004. "IDA Grants and HIPC Debt Cancellation: Their Effectiveness and Impact on IDA Resources," World Development, Elsevier, vol. 32(9), pages 1579-1607, September. [Downloadable!] (restricted)

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