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

The review by the Operations Evaluation Department finds the Heavily Indebted poor Countries (HIPC) initiative highly relevant in addressing a key obstacle facing many poor countries. If the anticipated debt relief is delivered in full, the initiat...

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Main Author:	Gautam, Madhur
Format:	Publication
Language:	English en_US
Published:	Washington, DC: World Bank 2013
Subjects:	ACCOUNTABILITY AIC BENCHMARK CAPACITY BUILDING CAS CD CONDITIONALITY CREDITOR CREDITOR COUNTRIES CREDITORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT SERVICE DEBT STOCKS DEBT SUSTAINABILITY DEBTOR COUNTRIES DEBTORS DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY ECONOMIC FORECASTS ECONOMIC GROWTH ECONOMIC MODELS ECONOMIC PERFORMANCE ECONOMIC STABILITY EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL DEBT FINANCIAL INSTITUTIONS FLEXIBILITY GDP GROWTH PROJECTIONS HEAVILY INDEBTED POOR COUNTRIES HIPC IMPORTS INSTITUTIONAL DEVELOPMENT INVENTORY MACROECONOMIC POLICY MULTILATERAL DEBT NONGOVERNMENTAL ORGANIZATIONS POLICY CHANGES POLITICAL ECONOMY POVERTY REDUCTION PROGRAMS PUBLIC EXPENDITURE PUBLIC EXPENDITURES REPAYMENT RESOURCE ALLOCATION SOVEREIGN DEBT STRUCTURAL ADJUSTMENT SUBSIDIARY SUSTAINABILITY INDICATORS TRANSPARENCY POOR PEOPLE POVERTY REDUCTION STRATEGIES POLICY FRAMEWORK INSTITUTIONAL CAPACITY EVALUATION METHODOLOGY EXPORT PERFORMANCE GOVERNANCE INSTITUTIONAL FRAMEWORK BORROWING POLICY PLANNING
Online Access:	http://documents.worldbank.org/curated/en/2003/05/2360797/debt-relief-poorest-oed-review-hipc-initiative http://hdl.handle.net/10986/15164

id	okr-10986-15164
recordtype	oai_dc
spelling	okr-10986-151642021-04-23T14:03:11Z Debt Relief for the Poorest : An OED Review of the HIPC Initiative Gautam, Madhur ACCOUNTABILITY AIC BENCHMARK CAPACITY BUILDING CAS CD CONDITIONALITY CREDITOR CREDITOR COUNTRIES CREDITORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT SERVICE DEBT STOCKS DEBT SUSTAINABILITY DEBTOR COUNTRIES DEBTORS DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY ECONOMIC FORECASTS ECONOMIC GROWTH ECONOMIC MODELS ECONOMIC PERFORMANCE ECONOMIC STABILITY EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL DEBT FINANCIAL INSTITUTIONS FLEXIBILITY GDP GROWTH PROJECTIONS HEAVILY INDEBTED POOR COUNTRIES HIPC IMPORTS INSTITUTIONAL DEVELOPMENT INVENTORY MACROECONOMIC POLICY MULTILATERAL DEBT NONGOVERNMENTAL ORGANIZATIONS POLICY CHANGES POLITICAL ECONOMY POVERTY REDUCTION PROGRAMS PUBLIC EXPENDITURE PUBLIC EXPENDITURES REPAYMENT RESOURCE ALLOCATION SOVEREIGN DEBT STRUCTURAL ADJUSTMENT SUBSIDIARY SUSTAINABILITY INDICATORS TRANSPARENCY POOR PEOPLE HEAVILY INDEBTED POOR COUNTRIES DEBT RELIEF DEBT RESCHEDULING DEBT MANAGEMENT POVERTY REDUCTION STRATEGIES POLICY FRAMEWORK INSTITUTIONAL CAPACITY EVALUATION METHODOLOGY DEBTOR COUNTRIES CAPACITY BUILDING EXPORT PERFORMANCE GOVERNANCE INSTITUTIONAL FRAMEWORK BORROWING POLICY PLANNING POVERTY REDUCTION The review by the Operations Evaluation Department finds the Heavily Indebted poor Countries (HIPC) initiative highly relevant in addressing a key obstacle facing many poor countries. If the anticipated debt relief is delivered in full, the initiative will succeed in substantially achieving its fundamental goal of reducing the excessive debt burden of the qualifying countries. But the legitimizing process that helped make the initiative a reality has also expanded its objectives. The initiative seeks to provide a "permanent" exit from debt rescheduling, promote growth, and release resources for social expenditures targeted at poverty reduction. Achieving these objectives will require actions by donors and the HIPC governments that are beyond the scope and means of the initiative. Unmanageable debt is a problem that needs to be effectively dealt with, but it is also a result of economic and political factors constraining growth and poverty reduction. The HIPC Initiative is thus an important but small part of the overall development assistance framework. Having provided the HIPCs with an opportunity for a "fresh start," the international community still faces a challenge in helping these countries set out on a sustainable path for growth and poverty reduction. 2013-08-19T17:19:32Z 2013-08-19T17:19:32Z 2003-04 http://documents.worldbank.org/curated/en/2003/05/2360797/debt-relief-poorest-oed-review-hipc-initiative 0-8213-5521-X http://hdl.handle.net/10986/15164 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTABILITY AIC BENCHMARK CAPACITY BUILDING CAS CD CONDITIONALITY CREDITOR CREDITOR COUNTRIES CREDITORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT SERVICE DEBT STOCKS DEBT SUSTAINABILITY DEBTOR COUNTRIES DEBTORS DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY ECONOMIC FORECASTS ECONOMIC GROWTH ECONOMIC MODELS ECONOMIC PERFORMANCE ECONOMIC STABILITY EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL DEBT FINANCIAL INSTITUTIONS FLEXIBILITY GDP GROWTH PROJECTIONS HEAVILY INDEBTED POOR COUNTRIES HIPC IMPORTS INSTITUTIONAL DEVELOPMENT INVENTORY MACROECONOMIC POLICY MULTILATERAL DEBT NONGOVERNMENTAL ORGANIZATIONS POLICY CHANGES POLITICAL ECONOMY POVERTY REDUCTION PROGRAMS PUBLIC EXPENDITURE PUBLIC EXPENDITURES REPAYMENT RESOURCE ALLOCATION SOVEREIGN DEBT STRUCTURAL ADJUSTMENT SUBSIDIARY SUSTAINABILITY INDICATORS TRANSPARENCY POOR PEOPLE HEAVILY INDEBTED POOR COUNTRIES DEBT RELIEF DEBT RESCHEDULING DEBT MANAGEMENT POVERTY REDUCTION STRATEGIES POLICY FRAMEWORK INSTITUTIONAL CAPACITY EVALUATION METHODOLOGY DEBTOR COUNTRIES CAPACITY BUILDING EXPORT PERFORMANCE GOVERNANCE INSTITUTIONAL FRAMEWORK BORROWING POLICY PLANNING POVERTY REDUCTION
spellingShingle	ACCOUNTABILITY AIC BENCHMARK CAPACITY BUILDING CAS CD CONDITIONALITY CREDITOR CREDITOR COUNTRIES CREDITORS DEBT DEBT BURDEN DEBT MANAGEMENT DEBT REDUCTION DEBT RELIEF DEBT RESCHEDULING DEBT SERVICE DEBT STOCKS DEBT SUSTAINABILITY DEBTOR COUNTRIES DEBTORS DEVELOPMENT ASSISTANCE DEVELOPMENT STRATEGY ECONOMIC FORECASTS ECONOMIC GROWTH ECONOMIC MODELS ECONOMIC PERFORMANCE ECONOMIC STABILITY EXPENDITURES EXPORT GROWTH EXPORTS EXTERNAL DEBT FINANCIAL INSTITUTIONS FLEXIBILITY GDP GROWTH PROJECTIONS HEAVILY INDEBTED POOR COUNTRIES HIPC IMPORTS INSTITUTIONAL DEVELOPMENT INVENTORY MACROECONOMIC POLICY MULTILATERAL DEBT NONGOVERNMENTAL ORGANIZATIONS POLICY CHANGES POLITICAL ECONOMY POVERTY REDUCTION PROGRAMS PUBLIC EXPENDITURE PUBLIC EXPENDITURES REPAYMENT RESOURCE ALLOCATION SOVEREIGN DEBT STRUCTURAL ADJUSTMENT SUBSIDIARY SUSTAINABILITY INDICATORS TRANSPARENCY POOR PEOPLE HEAVILY INDEBTED POOR COUNTRIES DEBT RELIEF DEBT RESCHEDULING DEBT MANAGEMENT POVERTY REDUCTION STRATEGIES POLICY FRAMEWORK INSTITUTIONAL CAPACITY EVALUATION METHODOLOGY DEBTOR COUNTRIES CAPACITY BUILDING EXPORT PERFORMANCE GOVERNANCE INSTITUTIONAL FRAMEWORK BORROWING POLICY PLANNING POVERTY REDUCTION Gautam, Madhur Debt Relief for the Poorest : An OED Review of the HIPC Initiative
description	The review by the Operations Evaluation Department finds the Heavily Indebted poor Countries (HIPC) initiative highly relevant in addressing a key obstacle facing many poor countries. If the anticipated debt relief is delivered in full, the initiative will succeed in substantially achieving its fundamental goal of reducing the excessive debt burden of the qualifying countries. But the legitimizing process that helped make the initiative a reality has also expanded its objectives. The initiative seeks to provide a "permanent" exit from debt rescheduling, promote growth, and release resources for social expenditures targeted at poverty reduction. Achieving these objectives will require actions by donors and the HIPC governments that are beyond the scope and means of the initiative. Unmanageable debt is a problem that needs to be effectively dealt with, but it is also a result of economic and political factors constraining growth and poverty reduction. The HIPC Initiative is thus an important but small part of the overall development assistance framework. Having provided the HIPCs with an opportunity for a "fresh start," the international community still faces a challenge in helping these countries set out on a sustainable path for growth and poverty reduction.
format	Publications & Research :: Publication
author	Gautam, Madhur
author_facet	Gautam, Madhur
author_sort	Gautam, Madhur
title	Debt Relief for the Poorest : An OED Review of the HIPC Initiative
title_short	Debt Relief for the Poorest : An OED Review of the HIPC Initiative
title_full	Debt Relief for the Poorest : An OED Review of the HIPC Initiative
title_fullStr	Debt Relief for the Poorest : An OED Review of the HIPC Initiative
title_full_unstemmed	Debt Relief for the Poorest : An OED Review of the HIPC Initiative
title_sort	debt relief for the poorest : an oed review of the hipc initiative
publisher	Washington, DC: World Bank
publishDate	2013
url	http://documents.worldbank.org/curated/en/2003/05/2360797/debt-relief-poorest-oed-review-hipc-initiative http://hdl.handle.net/10986/15164
_version_	1764425715517751296

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

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