After a massive international campaign calling attention to the development impact of foreign debt, the Heavily Indebted Poor Countries (HIPC) initiative is now underway. But will the HIPC Initiative meet its high expectations? Will debt relief substantially raise growth? How do we make sure...

More than half of the world's sovereign states are small economies. The majority are in Sub-Saharan Africa and the Caribbean Basin. For small economies, the globalization process involves opportunities, but also important risks because of their vulnerability and lack of diversification. This...