Can Debt Relief Boost Growth in Poor Countries?

The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world's poorest countries. It was based on the theory that economic growth in heavil...

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Main Author: Clements, Benedict J.
Other Authors: Bhattacharya, Rina, Nguyen, Toan Quoc
Format: eBook
Language:Russian
Published: Washington, D.C. International Monetary Fund 2005, 2005
Series:Economic Issues; Economic Issues
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary:The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the world's poorest countries. It was based on the theory that economic growth in heavily indebted poor countries was being stifled by heavy debt burdens, making it virtually impossible for these countries to escape poverty. However, most of the empirical research on the effects of debt on growth has lumped together a diverse group of countries, and the literature on the countries' impact of debt on poor is scant. This pamphlet presents the findings of the authors' empirical research into the subject, analyzing the channels through which debt affects growth in low-income countries
Physical Description:23 p.
ISBN:1589064682
9781589064683