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Author : Coumba Fall Gueye,Debt Relief International
Publisher : Unknown
Page : 90 pages
File Size : 45,6 Mb
Release : 2007
Category : Debts, External
ISBN : 1903971438
Author : International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 80 pages
File Size : 50,5 Mb
Release : 2023-12-18
Category : Business & Economics
ISBN : 9798400262180
Somalia has been rebuilding state institutions and the economy since the end of the devastating civil war, with strong support from the international community. The civil war led to complete state collapse, with tremendous loss of human and physical capital. Since the 2012 Provisional Constitution that created the Federal Government of Somalia (FGS) and the Federal Member States (FMS), Somalia has successfully undertaken three national elections, and Parliamentary and Presidential elections were completed in May 2022. With financial and capacity development support from international partners, Somalia has pursued wide-ranging reforms to help strengthen key economic and financial policy institutions as well as improve governance.
Author : Marco Arnone,Andrea F. Presbitero
Publisher : Routledge
Page : 297 pages
File Size : 44,7 Mb
Release : 2016-05-13
Category : Business & Economics
ISBN : 9781317154143
This book deals with the recent debt crises in developing countries and analyzes the design and implementation of the Heavily Indebted Poor Countries (HIPC) Initiative, by providing background concepts, pointing out the main drawbacks and suggesting a different approach to debt sustainability and debt relief programs. The authors merge academic, operational and institutional expertise, in order to provide an evaluation as complete and balanced as possible on the much-debated effectiveness of debt relief in fostering economic growth, reducing poverty and reaching debt sustainability. Marco Arnone and Andrea F. Presbitero assess the joint evolution of external and domestic public debt and produce original empirical evidence on the potential effects of public debt on investment, economic growth and institution-building in low- and middle-income countries. The book also explores relevant and up-to-date policy issues, such as the loans-grants mix and the development of responsible lending strategies in foreign assistance, the surge of non-concessional and domestic borrowing by low-income countries, and the impact of the 2008-2009 global financial crisis on debt sustainability.
Author : Ms.Christina Daseking,Mr.Robert Powell
Publisher : International Monetary Fund
Page : 30 pages
File Size : 40,7 Mb
Release : 1999-10-01
Category : Business & Economics
ISBN : 9781451856231
The low-income country debt crisis had its origins in weak macroeconomic policies, and official creditors’ willingness to take risks unacceptable to private lenders. Payments problems were initially addressed through nonconcessional reschedulings and new lending that maximized financing while containing the budgetary costs for creditors. This led to an unsustainable buildup in debt stocks. More recently, debt ratios have improved, reflecting both adjustment and substantial debt relief. The paper estimates debt relief initiatives since 1988 have cost creditors at least $30 billion, and possibly much more. This compares with the estimated costs of about $27 billion under the enhanced HIPC Initiative.
Author : African Development Bank
Publisher : Oxford University Press
Page : 204 pages
File Size : 45,7 Mb
Release : 2009-04-23
Category : Business & Economics
ISBN : 9780199565771
The African Development Bank commissioned four case studies on Debt Relief Initiatives, Development Assistance and Service Delivery in Ghana, Malawi, Senegal, and Uganda from the last quarter of 2006 to mid 2007. The objective of the study was to appraise the extent to which debt relief resources are being used to improve social service delivery. There is strong agreement from all four case studies that debt relief created flexibility in governments spending by playing the role of flexible and predictable budget support. In this context, governments acquired more degrees of freedom to allocate debt relief resources in line with their own objectives. In all four countries debt relief resources were more easily transformed into MDG-related spending than tied aid. The case studies had a consensus in identifying the accountability of public institutions to civil society, through community monitoring or execution of expenditures, as the most effective means of enhancing spending effectiveness. This formed the basis for the success observed in program implementation. From the findings of the case studies it is clear that debt relief can lead to enhanced service delivery provided certain conditions prevail. These conditions can be influenced by donors as well as the willingness of beneficiary governments to undertake reforms. The general observation across the case studies is that debt relief has a major positive impact on service delivery, and progress towards the MDGs, when beneficiaries: (i) have high capacity in MDG spending, (ii) are highly accountable, and (iii) receive stable and high-quality aid.
Author : Krista Nadakavukaren Schefer
Publisher : Cambridge University Press
Page : 501 pages
File Size : 40,6 Mb
Release : 2013-03-21
Category : Business & Economics
ISBN : 9781107032743
Looking beyond development, this volume examines international trade, investment and finance law with a focus on poverty.
Author : Nicholas Biekpe,Danny Cassimon,Andrew William Mullineux
Publisher : Springer
Page : 288 pages
File Size : 45,7 Mb
Release : 2017-09-04
Category : Business & Economics
ISBN : 9783319541662
This book presents a broad range of empirical research papers covering key issues in development finance. Despite having gained significant momentum in Africa and other emerging economies, textbooks and research publications on development finance are still very limited. This book shines a light on the main focal areas of the international ‘finance for development’ agenda and outlines innovative approaches to enhance economic growth and development finance to contribute towards realizing global sustainable development goals. Chapters from expert contributors cover topics such as domestic resource mobilization, debt relief, microfinance, financial sustainability, tax buoyancy, Foreign Direct Investment, foreign capital flows, and labour productivity. This book serves as a valuable reference tool for researchers, students and practitioners in this field.
Author : Ross P. Buckley
Publisher : Cambridge University Press
Page : 343 pages
File Size : 44,9 Mb
Release : 2011-04-25
Category : Law
ISBN : 9781139499576
Debt-for-development exchanges are an important financing tool for development. They make debt relief more politically and practically attractive to donor countries and serve the development of recipient countries through the cancellation of external debt and the funding of important development projects. This book commences by chronicling the emergence of debt-for-development exchanges from their forebears, debt-equity exchanges, and analyzes why debt for development suffers from very few of the problems that plagued debt equity. The book analyzes the different types of debt-for-development exchanges and the different ways they have been used by all donor nations that have made use of them. The book then explores a range of critical perspectives on exchanges and concludes by considering a wide range of new and innovative uses for the funds generated by exchanges.
Author : Carlos A. Primo Braga,D rte D meland
Publisher : World Bank Publications
Page : 480 pages
File Size : 52,7 Mb
Release : 2009-10-02
Category : Business & Economics
ISBN : 0821378759
The history of debt relief goes back several decades. It reveals that a country s accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened countries with the opportunity for a fresh start, but whether the benefits of debt relief can be preserved depends on transformations in a country s policies and institutions. In 1996, the Heavily Indebted Poor Countries (HIPC) Initiative was launched as the first comprehensive, multilateral, debt-relief framework for low-income countries. In 2005, the Multilateral Debt Relief Initiative was established, which increased the level of debt relief provided to HIPCs. As of early 2009, assistance through these two initiatives had been committed to 35 countries and amounted to US$117 billion in nominal terms, or half of the 2007 GDP of these countries. 'Debt Relief and Beyond' assesses the implications of debt relief for low-income countries and how its benefits can be preserved and used to fight poverty. The chapter authors bring unique operational experience to their examination of debt relief, debt sustainability, and debt management. Several key questions are addressed, including, what consequences does debt relief have for poverty-reducing expenditures, growth, and access to finance? Can debt relief guarantee debt sustainability? How can debt management at all levels of government be improved? What lessons can be learned from countries that have experienced debt restructuring? Finally, this book provides sound empirical evidence using current econometric techniques.
Author : Godfrey Kanyenze,Timothy Kondo
Publisher : African Books Collective
Page : 548 pages
File Size : 42,7 Mb
Release : 2011-07-26
Category : Business & Economics
ISBN : 9781779221605
Beyond the Enclave sets out to unravel the contradiction of a country, Zimbabwe, where a rich, diverse resource base co-exists with endemic poverty. One reason lies in the colonial economy, which was predicated on an ideology of white supremacy, creating an enclave formal economy employing one-fifth of the labour force. Yet over three decades after independence, the non-formal segment has become even more entrenched. This book assesses Zimbabwes economy through three main phases: 1980-90 when a strong social policy framework proved difficult to sustain due to erratic growth, and 1991-96, when structural adjustment demanded a market-driven approach to development. The third phase is characterized by crisis-management leading to policy inconsistencies and reversals. Not surprisingly, such incoherence saw the economy descend into hyperinflation and paralysis in 2007-2008, leading to the signing of the Global Political Agreement in September 2008. In the absence of formal dollarization, economic recovery after the adoption of the multi-currency regime has remained fragile, leaving an estimated 70 per cent of the population outside the banking system. This has further entrenched uneven (enclave) growth as the economy remains locked in a low-income poverty trap. There is a need to facilitate transition towards formality to promote decent jobs. Furthermore, a strategic, developmental role for the state in the economy is now widely recognized as vital for development. Beyond the Enclave argues for a new approach to development in Zimbabwe based on pro-poor and inclusive strategies, which will contribute to the well-being of all of its citizens and wise stewardship of its resources. It offers suggestions on policy formulation, implementation, monitoring and evaluation in all sectors, designed to promote inclusive growth and humane development.
Author : Professor Léonce Ndikumana,James K. Boyce
Publisher : Zed Books Ltd.
Page : 132 pages
File Size : 49,7 Mb
Release : 2011-10-13
Category : Social Science
ISBN : 9781780321462
In Africa's Odious Debts, Boyce and Ndikumana reveal the shocking fact that, contrary to the popular perception of Africa being a drain on the financial resources of the West, the continent is actually a net creditor to the rest of the world. The extent of capital flight from sub-Saharan Africa is remarkable: more than $700 billion in the past four decades. But Africa’s foreign assets remain private and hidden, while its foreign debts are public, owed by the people of Africa through their governments. Léonce Ndikumana and James K. Boyce reveal the intimate links between foreign loans and capital flight. Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place. Meanwhile, debt-service payments continue to drain scarce resources from Africa, cutting into funds available for public health and other needs. Controversially, the authors argue that African governments should repudiate these ‘odious debts’ from which their people derived no benefit, and that the international community should assist in this effort. A vital book for anyone interested in Africa, its future and its relationship with the West.
Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 53,6 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author : John E. Serieux,Yiagadeesen Samy
Publisher : Transaction Publishers
Page : 272 pages
File Size : 44,7 Mb
Release : 2024-07-01
Category : Political Science
ISBN : 9781412821315
The debt problems of poor countries are receiving unprecedented attention. Both federal and non-governmental organizations alike have been campaigning for debt forgiveness for poor countries. The governments of creditor nations responded to that challenge at a meeting sponsored by the G-7, International Monetary Fund, and World Bank, all of which upgraded debt relief as a policy priority. Their initiatives provided for generous interpretations of these nations' abilities to sustain debt, gave them opportunities to qualify for debt relief more rapidly, and linked debt relief to broader policies of poverty reduction. Despite this, the crisis has only deepened in the first years of the new millennium. This brilliant group of contributions assesses why this has occurred. In plain language, it considers why debt relief has been so long in coming for poor countries. It evaluates the cost of a persistent overhang in debt for those countries. It also examines, head on, whether enhanced debt relief initiatives offer a permanent exit from over-indebtedness, or are merely a short-term respite. Above all, this volume for the first time addresses the issues on the ground: that is, the views and opinions about debt relief on the part of leaders in advanced nations, and the probability of further support for the most impoverished lands. In this approach, the editors and contributors have made an explicit and successful attempt to be inclusive and relevant at all stages of the analysis. This volume covers the full range of the poorest countries, with contributions by John Serieux, Lykke Anderson and Osvaldo Nina, Befekadu Degefe, Ligia Maria Castro-Monge, and Peter B. Mijumbi. Collectively, they offer a sobering scenario: unless measures are put in place now, in anticipation of further crises, the future of the very poorest nations will remain bleak and troublesome. John Serieux completed this volume as a senior researcher and specialist in international finance for the North-South Institute, an independent research institute based in Ottawa, Canada. Before that he was a lecturer at the graduate program in economics at Chancellor College, at the University of Malawi. His major works are in domestic and foreign resource mobilization. Yiagadeesen Samy is completing his doctoral research in economics at the University of Ottawa in international trade and economics of development. His key interest is now in trade and labor standards.
Author : Duncan Green
Publisher : Oxfam
Page : 540 pages
File Size : 43,5 Mb
Release : 2008
Category : Social Science
ISBN : 9780855985936
Offers a look at the causes and effects of poverty and inequality, as well as the possible solutions. This title features research, human stories, statistics, and compelling arguments. It discusses about the world we live in and how we can make it a better place.
Author : Duncan Green
Publisher : Oxfam
Page : 488 pages
File Size : 44,8 Mb
Release : 2012
Category : Political Science
ISBN : 9781853397417
From Poverty to Power argues that a radical redistribution of power, opportunities, and assets rather than traditional models of charitable or government aid is required to break the cycle of poverty and inequality. The forces driving this transformation are active citizens and effective states. Published in association with Oxfam GB.