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|z 9781451856231
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|a 1018-5941
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|a Daseking, Christina.
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|a From Toronto Terms to the HIPC Initiative :
|b A Brief History of Debt Relief for Low-Income Countries /
|c Christina Daseking, Robert Powell.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (29 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The low-income country debt crisis had its origins in weak macroeconomic policies, and official creditors' willingness to take risks unacceptable to private lenders. Payments problems were initially addressed through nonconcessional reschedulings and new lending that maximized financing while containing the budgetary costs for creditors. This led to an unsustainable buildup in debt stocks. More recently, debt ratios have improved, reflecting both adjustment and substantial debt relief. The paper estimates debt relief initiatives since 1988 have cost creditors at least USD 30 billion, and possibly much more. This compares with the estimated costs of about USD 27 billion under the enhanced HIPC Initiative.
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|a Mode of access: Internet
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|a Powell, Robert.
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|a IMF Working Papers; Working Paper ;
|v No. 1999/142
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/142/001.1999.issue-142-en.xml
|z IMF e-Library
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