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...

Despite hundreds of billions of dollars spent on foreign aid to sub-Saharan Africa, a sure path to growth and development has not yet been found - and each new heralded approach has crumbled amid regrets and recriminations. The authors of "Smart Aid for African Development" provide critical...