15. L’endettement des pays à faible revenu et l’architecture financière internationale
Reflets et perspectives de la vie économique, 2015, vol. n° 17, issue 2, 230-244
The relationship between Bretton Woods Institutions (BWI) and Low Income Countries (LICS) is long term. Their financing is concessional, made of soft debt and grants. Even so, and even with advice and conditionalities, LICs experienced overindebtedness. After some twenty years of structural adjustment, LICs have been granted debt cancellation. BWI did not face sanctions for their failure. They now try to cope with the new borrowing of the LICs, which results in an increase, sometimes fast, of the debt ratios.
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