Description: Debt Relief for the Poorest : An Evaluation Update of the HIPC Initiative

Debt Relief for the Poorest : An Evaluation Update of the HIPC Initiative

This study evaluates progress under the HIPC initiative since the 2003 evaluation of the Independent Evaluation Group. It finds that the Enhanced HIPC initiative (the Initiative for Heavily Indebted Poor Countries) cut debt ratios in half for 18 co...

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Bibliographic Details
Main Author:	Independent Evaluation Group
Language:	English en_US
Published:	Washington, DC: World Bank 2012
Subjects:	ACCOUNTABILITY ANNUAL RATE BILATERAL CREDITORS BORROWING COMMERCIAL CREDITORS COMMERCIAL DEBT COUNTERFACTUAL CREDITOR CREDITORS DEBT DEBT BURDEN DEBT BURDENS DEBT CANCELLATION DEBT FORGIVENESS DEBT MANAGEMENT DEBT MANAGEMENT CAPACITY DEBT OVERHANG DEBT RATIOS DEBT REDUCTION DEBT RELIEF DEBT RELIEF INITIATIVES DEBT RESCHEDULING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICE RELIEF DEBT SUSTAINABILITY DEBT SUSTAINABILITY ANALYSES DEBT SUSTAINABILITY ANALYSIS DEBT-RELIEF DEBTOR DEBTOR COUNTRIES DEBTORS DEVELOPMENT STRATEGIES DIAGNOSTIC WORK ECONOMIC POLICY EVALUATION CAPACITY EXCESSIVE DEBT EXCHANGE RATES EXPENDITURE PRIORITIES EXPENDITURES EXTERNAL DEBT EXTERNAL DEBT SUSTAINABILITY EXTERNAL DEBTS FISCAL MANAGEMENT GOVERNMENT EXPENDITURES GROWTH RATE HEAVILY INDEBTED POOR COUNTRIES HIPC INCOME INVENTORY LAWS LONG-TERM DEBT LONG-TERM DEBT SUSTAINABILITY MULTILATERAL CREDITORS NET PRESENT VALUE NEW ENTRANTS PERFORMANCE CRITERIA POVERTY REDUCING POVERTY REDUCTION POVERTY REDUCTION STRATEGY PRESENT VALUE PROGRAMS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE MANAGEMENT PUBLIC EXPENDITURE MANAGEMENT SYSTEMS PUBLIC EXPENDITURES REFORM PROGRAM REPAYMENT REPAYMENT CAPACITY RESOURCE ALLOCATION REVENUE MOBILIZATION SOCIAL EXPENDITURE SOCIAL EXPENDITURES SOVEREIGN DEBT STRUCTURAL REFORMS SUBSIDIARY TRANSPARENCY UNCERTAINTY
Online Access:	http://documents.worldbank.org/curated/en/2006/06/6895520/debt-relief-poorest-evaluation-update-hipc-initiative http://hdl.handle.net/10986/7018

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Summary:	This study evaluates progress under the HIPC initiative since the 2003 evaluation of the Independent Evaluation Group. It finds that the Enhanced HIPC initiative (the Initiative for Heavily Indebted Poor Countries) cut debt ratios in half for 18 countries, but in eight of these countries, the ratios have come to once again exceed HIPC thresholds. Debt reduction alone is not a sufficient instrument to affect the multiple drivers of debt sustainability. Sustained improvements in export diversification, fiscal management, the terms of new financing, and public debt management are also needed, measures that fall outside the ambit of the HIPC initiative.

Debt Relief for the Poorest : An Evaluation Update of the HIPC Initiative

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