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

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

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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  1. Alberto Alesina & Beatrice Weder, 1999. "Do Corrupt Governments Receive Less Foreign Aid?," NBER Working Papers 7108, National Bureau of Economic Research, Inc.
  2. Collier, Paul & Dollar, David, 1999. "Aid allocation and poverty reduction," Policy Research Working Paper Series 2041, The World Bank.
  3. Alesina, Alberto & Dollar, David, 2000. " Who Gives Foreign Aid to Whom and Why?," Journal of Economic Growth, Springer, vol. 5(1), pages 33-63, March.
  4. 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).
  5. Christina Daseking & Robert Powell, 1999. "From toronto Terms to the HIPC Initiative; A Brief History of Debt Relief for Low-Income Countries," IMF Working Papers 99/142, International Monetary Fund.
  6. 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.
  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. 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.
  9. 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.
  10. 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.
  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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