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 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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Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number
613.
Length: 38 p. Date of creation: 2006 Date of revision: Publication status: Published in: World Development 36 (2008) 3 ,485-504 Handle: RePEc:diw:diwwpp:dp613
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.:
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!] (restricted)