Debt Relief for Low Income Countries: Is it Effective and Efficient?

2003-01-01articleWorld Economy36 citationsbronze

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International Development and Aid Global Financial Crisis and Policies Fiscal Policies and Political Economy

Abstract

Although a great deal of attention has been paid to IMF conditionality and to the effects of IMF programmes, relatively little attention has been paid to their completion rate. However, the record is that the clear majority of Fund programmes are uncompleted. Is this a cause for concern and why is it that the completion rate is low? In principle, a number of factors could be at work. Gaining a better understanding of what these are should allow policy reform at the IMF to improve performance. While there are things that we do not know and need to know about programme completion, we know enough to delineate the broad direction that policy should take.

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Cited by

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2001Debt Relief Under the HIPC Initiative

2018Curse or Blessing? Has the Impact of Debt Relief Lived up to Expectations? A Review of the Effects of the Multilateral Debt Relief Initiatives for Low-Income Countries

2003Debt Relief, Additionality, and Aid Allocation in Low Income Countries

2007Robbing Peter to Pay Paul? Understanding Who Pays for Debt Relief

2013Did High Debts Distort Loan and Grant Allocation to IDA Countries?

2004IMF Gold and the World Bank's Unfunded HIPC Deficit