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Debt Reduction for Poverty Eradication in the Least Developed Countries: Analysis and Recommendations on LDC Debt

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  • European Network on Development

Abstract

This paper reviews the main obstacles to human and social development posed by the current external debt burdens of the least development countries. In particular, it analyses the shortcomings of the mechanisms and thresholds used to assess the sustainability of debt levels in the HIPC Initiative. An alternative needs-based approach analysis of debt sustainability is proposed. The methodology explicitly emphasizes the need to prioritize poor countries' social and poverty reducing expenditures over external debt servicing.

Suggested Citation

  • European Network on Development, 2001. "Debt Reduction for Poverty Eradication in the Least Developed Countries: Analysis and Recommendations on LDC Debt," WIDER Working Paper Series DP2001-110, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:dp2001-110
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2001-110.pdf
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    1. repec:bla:intfin:v:4:y:2001:i:3:p:363-80 is not listed on IDEAS
    2. Daniel Cohen, 2001. "The HIPC Initiative: True and False Promises," International Finance, Wiley Blackwell, vol. 4(3), pages 363-380.
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    Cited by:

    1. Artur Colom Jaén, 2003. "¿El retorno de los elefantes blancos? África, deuda y pobreza," Revista de Economia Critica, Universidad Pablo de Olavide y Asociacion de Economia Critica, vol. 1, pages 175-187.

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