The fragile panacea of debt relief for developing countries
AbstractThe subject of debt relief for low income and highly indebted countries has risen to the fore of public debate in recent months. I review a brief history of major debt relief for low-income countries including the recent HIPC initiative and I discuss some factors that should be taken into consideration that would impact the usefulness of debt forgiveness on the affected countries. Finally, I conclude that debt relief is effective only in certain circumstances and needs to be applied with care.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 18098.
Date of creation: 01 Feb 2005
Date of revision:
debt relief; low-income countries; HIPC;
Find related papers by JEL classification:
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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