Domestic Implications of Debt Relief

Paper Summary:

This paper reviews the impact of debt relief on domestic social, political and economic situations. According to this paper, the external debt situation for a number of low-income countries has become extremely difficult in recent years, prompting the IMF and the World Bank to design a framework to provide special assistance to the heavily indebted poor countries (HIPC).

Contents:
Introduction
Challenges and Future Policies
Diagnosis and Reflections on Poverty Reduction Policies
Poverty and Recession in Sub-Saharan Africa
Africa Deprived of Its Inheritance
The Urban Dynamics: Cities Suffer Most
Policy Design Post Evaluation
Conclusions

From the Paper:

"As for the implementation of the strategies, the principle of participation from different members of society opens up new prospects that will have an impact on the way national affairs are led. By favouring respect for the right to information and expression, participation fulfils one objective in that it deals with one of the key factors of poverty, namely exclusion and marginalisation. But the potential impact of this precept goes way beyond this aspect. Participation will only take on its full meaning if it really helps solve the problem of the lack of democracy in poor countries. It should give extra capabilities and power to intermediate bodies (the media, trade unions, associations, etc.) in drawing up, monitoring, controlling, assessing and redirecting the policies. Information is of course of utmost importance in this respect, and its formative nature must be underlined. It makes public choices explicit and increases transparency in the management of state affairs, whilst offering the different players in society the possibility of exerting pressure, or even taking sanctions in the case of failure. In short, making the state accountable for its actions before its citizens is at stake."

Sample of Sources Used:

• Atkinson, A.B. and Stiglitz, J.E. (1989) Lectures in Public Economics, New York: McGraw-Hill International Editions.
• African Development Bank (2005) Achieving the Millennium Development Goals in Africa. Progress, Prospects, and Policy Implications, Global Poverty Report 2002, in collaboration with the World Bank, Abidjan: African Development Bank.
• Booth, D. and Lucas, H. (2002) Good Practice in the Development of PRSP Indicators
• Booth, D. (eds) (2002) Fighting Poverty in Africa: Are PRSPs Making a Difference? , London: Overseas Development Institute for the Strategic Partnership with Africa.
• Bratton, M. and van de Walle, N. (1997) Democratic Experiments in Africa. Regime Transitions in Comparative Perspective, London: Cambridge University Press.

More papers on Domestic Implications of Debt Relief:

• Persuasive Essay # 116369 : "Why Debt Relief Has Failed"
• Term Paper # 91576 : "Debt Relief: Helping or Hindering?"
• Term Paper # 91687 : "Debt Relief"

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