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The Debt-Relief Initiative for Poor Countries

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  • Gustav Ranis
  • Frances Stewart

Abstract

This paper reviews the new debt-relief initiative for Highly-Indebted Poor Countries (HIPCs) designed to reduce the debt burden of potentially 36 poor countries. It finds that the HIPC initiative is not likely to make a major contribution to the problems of the world’s poor. It offers limited and highly conditional resources, most of which are not likely to be additional to existing resource flows; the resources are not distributed according to need; and the policy packages accompanying HIPC are unlikely to do much for the major development problems that are constraining these countries’ development efforts. A major problem with the initiative is that it excludes all the populous poor countries, so that the vast majority of the poor of the world will not be touched by it.

Suggested Citation

  • Gustav Ranis & Frances Stewart, 2001. "The Debt-Relief Initiative for Poor Countries," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(3), pages 111-124, July.
    • Handle: RePEc:wej:wldecn:67
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    Cited by:

    1. Gustav Ranis, 2013. "Another Look at Foreign Aid," WIDER Working Paper Series wp-2013-119, World Institute for Development Economic Research (UNU-WIDER).
    2. Graham Bird, 2004. "Growth, poverty and the IMF," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(4), pages 621-636.
    3. Ranis, Gustav, 2012. "Another Look at Foreign Aid," Center Discussion Papers 133408, Yale University, Economic Growth Center.
    4. Ranis, Gustav, 2004. "The Evolution of Development Thinking: Theory and Policy," Center Discussion Papers 28528, Yale University, Economic Growth Center.
    5. Gustav Ranis, 2012. "Another Look at Foreign Aid," Working Papers 1015, Economic Growth Center, Yale University.
    6. Ranis, Gustav, 2013. "Another Look at Foreign Aid," WIDER Working Paper Series 119, World Institute for Development Economic Research (UNU-WIDER).
    7. Ranis, Gustav, 2012. "Another Look at Foreign Aid," Working Papers 106, Yale University, Department of Economics.

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