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Will HIPC Matter? The Debt Game and Donor Behaviour in Africa

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  • Birdsall, Nancy
  • Claessens, Stijn
  • Diwan, Ishac

Abstract

In this Paper we focus on the question: Will the HIPC debt reduction program help in the transformation of the development assistance business and change the rules of the ‘debt game’ in Africa? We concentrate on the donor and official creditor side, by exploring how the growing debt of African countries, over the last two decades, has affected the provision of new resources by the donor community. Our results indicate, if debt levels are reduced sufficiently in high debt countries, that donors can shift from the current pattern of non-selectivity and defensive lending to a low debt regime – a regime that has in the past allowed selectivity in lending in relation to levels of poverty and quality of policy.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3297.

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Date of creation: Apr 2002
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Handle: RePEc:cpr:ceprdp:3297

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Keywords: debt relief foreign aid; international organizations; low-income countries;

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  1. Dollar, David & Alesina, Alberto, 2000. "Who Gives Foreign Aid to Whom and Why?," Scholarly Articles 4553020, Harvard University Department of Economics.
  2. Dollar, David & Easterly, William, 1999. "The search for the key : aid, investment, and policies in Africa," Policy Research Working Paper Series 2070, The World Bank.
  3. Devarajan, Shantayanan & Swaroop, Vinaya & Heng-fu, Zou, 1996. "The composition of public expenditure and economic growth," Journal of Monetary Economics, Elsevier, vol. 37(2-3), pages 313-344, April.
  4. Alesina, Alberto & Weder, Beatrice, 2002. "Do Corrupt Governments Receive Less Foreign Aid?," Scholarly Articles 4553011, Harvard University Department of Economics.
  5. Howard White & Tony Killick & Steve Kayizzi-Mugerwa & Marie-Angelique Savane, 2001. "African Poverty at the Millennium : Causes, Complexities, and Challenges," World Bank Publications, The World Bank, number 13866, August.
  6. Jeffrey Sachs & Josef Kneer, 1990. "Debt reduction: the basis and shape of a new strategy," Intereconomics: Review of European Economic Policy, Springer, vol. 25(1), pages 3-5, January.
  7. Easterly, William, 1999. "How did highly indebted poor countries become highly indebted? : reviewing two decades of debt relief," Policy Research Working Paper Series 2225, The World Bank.
  8. Renard, Robrecht & Cassimon, Danny, 2001. "On the Pitfalls of Measuring Aid," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  9. Collier, Paul & Dollar, David, 1999. "Aid allocation and poverty reduction," Policy Research Working Paper Series 2041, The World Bank.
  10. Christina Daseking & Robert Powell, 1999. "From toronto Terms to the HIPC Initiative," IMF Working Papers 99/142, International Monetary Fund.
  11. 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.
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Cited by:
  1. Ratha, Dilip, 2005. "Demand for World Bank lending," Economic Systems, Elsevier, vol. 29(4), pages 408-421, December.
  2. Ratha, Dilip, 2001. "Complementarity between multilateral lending and private flows to developing countries : some empirical results," Policy Research Working Paper Series 2746, The World Bank.
  3. Casamatta, Georges & Vellutini, Charles, 2008. "Clientelism and aid," Journal of Development Economics, Elsevier, vol. 87(2), pages 322-332, October.
  4. Ralf Hepp, 2005. "Consequences of Debt Relief Initiatives in the 1990s," International Finance 0510004, EconWPA.
  5. Heylen, Fanny Heylen, 2010. "Analyzing the Poverty Impact of the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative in Bolivia," Revista Latinoamericana de Desarrollo Economico, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana, issue 14, pages 71-106.
  6. Matteo Bobba & Andrew Powell, 2006. "Mediación multilateral de la ayuda extranjera," Research Department Publications 4501, Inter-American Development Bank, Research Department.
  7. Matteo Bobba & Andrew Powell, 2006. "Multilateral Intermediation of Foreign Aid: What is the Trade-Off for Donor Countries?," Research Department Publications 4500, Inter-American Development Bank, Research Department.

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