The introduction of the Heavily Indebted Poor Countries (HIPC) initiative in 1996 established landmark legal and policy innovations both in the regulatory landscape of sovereign debt and in the framework of international development finance. As the HIPC framework draws to a close, this paper...

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...

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...

High levels of government debt depress productive investment in a number of ways. High outstanding debt keeps market interest rates high crowding out private investment. Risk of default reduces incentives to invest or creates adverse selection in the mix of investments. Government revenue must...

The authors revisit the debt overhang question. They first use nonparametric techniques to isolate a panel of countries on the downward sloping section of a debt Laffer Curve. In particular, overhang countries are ones where a threshold level of debt is reached in sample, beyond which (initial)...

The objective of debt relief grant operation was to provide Cameroon the assistance required by IDA under the enhanced HIPC Debt Initiative upon Cameroon reaching the completion point, thus contributing to improving Cameroon's overall debt sustainability and supporting the government's...

The authorities are requesting additional interim HIPC assistance from the Fund in the amount of SDR 680,000 (Appendix I) to cover the period March 25, 2021- March 24, 2022. The interim HIPC assistance will be applied to cover 100 percent of eligible debt service to the IMF falling due over the...