The history of debt relief goes back several decades. It reveals that a country's accumulation of unsustainable debt stems from such factors as deficiencies in macroeconomic management, adverse terms-of-trade shocks, and poor governance. Debt-relief initiatives have provided debt-burdened...

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...

This collection draws together contemporary articles on development economics. Ideal for students with little or no background in economics, it covers a range of themes including poverty, foreign aid, agriculture and human capital

1. Brief history of debt management until 1989 -- 2. Brief history of debt management after 1989 -- 3. In quest of solutions : sovereign insolvency proposals, collective action clauses and recent country cases -- 4. Gleneagles, the Multilateral Debt Relief Initiative and the US crisis -- 5. The...