Munich Personal RePEc Archive

The fragile panacea of debt relief for developing countries

Green, Keith (2005): The fragile panacea of debt relief for developing countries.

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Abstract

The subject of debt relief for low income and highly indebted countries has risen to the fore of public debate in recent months. I review a brief history of major debt relief for low-income countries including the recent HIPC initiative and I discuss some factors that should be taken into consideration that would impact the usefulness of debt forgiveness on the affected countries. Finally, I conclude that debt relief is effective only in certain circumstances and needs to be applied with care.

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