The period of the 1970s experienced a tremendous growth of debt of the less developed countries (LDCs). Between 1970 and 1980, the debt of the LDCs grew fivefold to $580 billion. Much of this growth of debt was accounted for by liberal lending of transnational commercial banks (TNBs). The...

Mozambique has been one of the first highly indebted countries to obtain a debt reduction, in the framework of HIPC and enhanced HIPC initiative, and to implement a Poverty Reduction Strategy Paper. The process is still in its early stages, but it is already possible to investigate on the recent...

In the face of high and rising debt vulnerabilities in low-income countries (LICs), the G20 Common Framework for Debt Treatments provides an important tool to facilitate debt restructurings, but its implementation has so far been hampered by delays and difficulties. Drawing also from a...

A 2015 World Bank report on the achievement of Millennium Development Goals (MDGs) revealed that since the 1990s, extreme poverty has been decreasing in all regions of the world with the exception of Africa where about 50 percent of countries in Sub-Saharan Africa did not achieve the MDG extreme...

Is China-Africa economic relation instrumental for capital flight and poverty reduction in FZ? Does it matter in the improvement of external debt's impact on GDP per capita and capital flight reduction in particular? This paper extends and assesses the Asongu and Aminkeng (2013) conclusions...

An April 2015 World Bank report on the Millennium Development Goal poverty target has revealed that extreme poverty has been decreasing in all regions of the world with the exception of Africa. This study extends the implications of Thomas Piketty's celebrated literature from developed countries...

This paper presents a critical approach to the policy debate about external debt sustainability and debt relief in the High Indebted Poor countries (HIPC). The authors look at the different approaches to and models of debt sustainability and claim that a realistic evaluation of this issue...

Since their inception at the end of the Second World War, the sister organizations of the World Bank and the International Monetary Fund (IMF) have aimed to consistently speak with one voice vis-agrave;-vis their member governments. However, anecdotal evidence suggests that they often do not...

This paper examines a number of structural factors affecting the external debt sustainability of HIPC completion point countries. It shows that (i) while comparing favorably with other low-income countries, the policy and institutional frameworks of completion point countries in general are...

In this paper we broaden the standard debt sustainability framework used in the IMF-WB Heavily Indebted Poor Countries (HIPC) Initiative to include the analysis of domestic public debt and other feedback effects into the usual debt sustainability analysis (DSA). The latter does not take into...