Debt Relief for the Poorest : An OED Review of the HIPC Initiative

Gautam, Madhur

Washington, DC:World Bank

关键词: ACCOUNTABILITY;    AIC;    BENCHMARK;    CAPACITY BUILDING;    CAS;   

DOI  :  10.1596/978-0-8213-5521-3
RP-ID  :  25952

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The review by the Operations EvaluationDepartment finds the Heavily Indebted poor Countries (HIPC)initiative highly relevant in addressing a key obstaclefacing many poor countries. If the anticipated debt reliefis delivered in full, the initiative will succeed insubstantially achieving its fundamental goal of reducing theexcessive debt burden of the qualifying countries. But thelegitimizing process that helped make the initiative areality has also expanded its objectives. The initiativeseeks to provide a "permanent" exit from debtrescheduling, promote growth, and release resources forsocial expenditures targeted at poverty reduction. Achievingthese objectives will require actions by donors and the HIPCgovernments that are beyond the scope and means of theinitiative. Unmanageable debt is a problem that needs to beeffectively dealt with, but it is also a result of economicand political factors constraining growth and povertyreduction. The HIPC Initiative is thus an important butsmall part of the overall development assistance framework.Having provided the HIPCs with an opportunity for a"fresh start," the international community stillfaces a challenge in helping these countries set out on asustainable path for growth and poverty reduction.