Debt Relief Under the HIPC Initiative: Context and Outlook for Debt Sustainability and Resource Flows

Lisandro Abrego and Doris C. Ross

No DP2001-96, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper analyses debt relief efforts by creditors to alleviate the debt burden of low-income countries. The Heavily Indebted Poor Countries (HIPC) Initiative builds on traditional debt relief, and for the first time involves relief on multilateral debt. It seeks to reduce debt to sustainable levels and eliminate any debt overhang that might hinder growth and investment. It provides substantial debt relief to eligible countries by reducing their overall debt stocks by about one-half, or, together with traditional relief over time, by some 80 percent.

Keywords: Public debt; Economic development; Macroeconomics; Poverty (search for similar items in EconPapers)
Date: 2001
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