Debt Reduction for Poverty Eradication in the Least Developed Countries: Analysis and Recommendations on LDC Debt

European Network on Development

No DP2001-110, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper reviews the main obstacles to human and social development posed by the current external debt burdens of the least development countries. In particular, it analyses the shortcomings of the mechanisms and thresholds used to assess the sustainability of debt levels in the HIPC Initiative. An alternative needs-based approach analysis of debt sustainability is proposed. The methodology explicitly emphasizes the need to prioritize poor countries' social and poverty reducing expenditures over external debt servicing.

Keywords: Public debt; Economic assistance and foreign aid; Economic development; Public expenditures; Poverty (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:dp2001-110

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