Debt Relief for Low-Income Countries: Is it Effective and Efficient?

Graham Bird and Alistair Milne

Chapter 15 in International Finance and the Developing Economies, 2004, pp 273-288 from Palgrave Macmillan

Abstract: Abstract In recent years religious bodies, campaigning groups, and parts of the media have made a strong moral case for debt relief, accusing creditors of imposing an excessive burden of debt on low-income countries and thereby forcing them to cut back in other areas of government expenditure such as education and health, with deleterious effects on poverty reduction and economic growth. The case for debt relief is also made from the other side of the political spectrum, most notably in the recent report of the International Financial Institution Advisory Commission sponsored by the US Congress (the ‘Meltzer’ report) which amongst other measures called for complete debt cancellation by the IMF and other IFIs.

Keywords: Debt Service; Debt Relief; Resource Transfer; Private Creditor; Indebted Country (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1057/9780230599840_15

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