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Debt Relief for the Poorest : An Evaluation Update of the HIPC Initiative

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  • Independent Evaluation Group

Abstract

This study evaluates progress under the HIPC initiative since the 2003 evaluation of the Independent Evaluation Group. It finds that the Enhanced HIPC initiative (the Initiative for Heavily Indebted Poor Countries) cut debt ratios in half for 18 countries, but in eight of these countries, the ratios have come to once again exceed HIPC thresholds. Debt reduction alone is not a sufficient instrument to affect the multiple drivers of debt sustainability. Sustained improvements in export diversification, fiscal management, the terms of new financing, and public debt management are also needed, measures that fall outside the ambit of the HIPC initiative.

Suggested Citation

  • Independent Evaluation Group, 2006. "Debt Relief for the Poorest : An Evaluation Update of the HIPC Initiative," World Bank Publications - Books, The World Bank Group, number 7018, December.
    • Handle: RePEc:wbk:wbpubs:7018
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/7018/366170PAPER0De1for0poorest01PUBLIC1.pdf?sequence=1
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    Citations

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    Cited by:

    1. Presbitero, Andrea F., 2008. "Debt Relief Effectiveness and Institution Building," MPRA Paper 12597, University Library of Munich, Germany.
    2. Bhubanesh Pant Ph.D. & Biggyan Subedi, 2008. "The HIPC Initiative, MDRI and Nepal: A Re-examination," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 20, pages 44-61, April.

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