Publication:
Debt Relief and Beyond : Lessons Learned and Challenges Ahead

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dc.contributor.authorPrimo Braga, Carlos A.
dc.contributor.authorDomeland, Dorte
dc.contributor.editorPrimo Braga, Carlos A.
dc.contributor.editorDomeland, Dorte
dc.date.accessioned2012-03-19T10:04:41Z
dc.date.available2012-03-19T10:04:41Z
dc.date.issued2009
dc.description.abstractHeavily indebted low-income countries benefited from significant debt relief over the past decade. Under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI), assistance of about $117 billion in nominal terms had been committed to 35 HIPC as of end-April 2009. This debt relief represents about half of the 2007 Gross Domestic Product (GDP) of these countries, whose debt burden is expected to drop by more than 80 percent once full debt relief is granted. As a result of relief already provided, debt-service payments have plummeted and expenditures on pro-poor growth programs increased. The book is divided into four parts. Part one examines the design of debt-relief initiatives and provides evidence of its effect on education, health, and economic growth. Part two describes the risks and opportunities developing countries face following debt relief. It identifies how they can safeguard debt sustainability; describes the role of sovereign risk for private sector access to capital; and draws lessons from the experience of market-access countries on the links between sovereign debt and development. Part three examines the concept and various policy proposals of dealing with 'odious' debt. Part four looks at debt management, debt restructuring, and the interplay between debt and fiscal policies. It provides guidance on debut sovereign bond issues; examines the issuance and management of sub-national debt; describes the challenges of crafting fiscal policy and managing debt and oil revenues in a (temporarily) oil-rich country (the Republic of Congo); and draws lessons from Chile's experiences using debt swaps in the 1980s.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20091111232053
dc.identifier.doi10.1596/978-0-8213-7874-8
dc.identifier.isbn978-0-8213-7874-8
dc.identifier.urihttps://hdl.handle.net/10986/2681
dc.languageEnglish
dc.publisherWorld Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCESS TO CAPITAL
dc.subjectACCESS TO DEBT
dc.subjectAMOUNT OF DEBT
dc.subjectBAILOUT
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEET
dc.subjectBILATERAL CREDITORS
dc.subjectBILATERAL DONORS
dc.subjectBOND INDEX
dc.subjectBOND ISSUANCES
dc.subjectBOND ISSUES
dc.subjectBOND SPREADS
dc.subjectBONDS
dc.subjectBUDGET CONSTRAINT
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCAPITALIZATION
dc.subjectCASH FLOWS
dc.subjectCOMMERCIAL CREDITOR
dc.subjectCOMMERCIAL CREDITORS
dc.subjectCOMMERCIAL DEBT
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCONFLICTS OF INTEREST
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONTINGENT LIABILITIES
dc.subjectCOST TO BORROWERS
dc.subjectCOUNTRY RISK
dc.subjectCOVERAGE OF DEBT
dc.subjectCREDIT AGENCIES
dc.subjectCREDIT RATINGS
dc.subjectCREDIT RISK
dc.subjectCREDIT TRANCHE
dc.subjectCREDITOR
dc.subjectDEBT
dc.subjectDEBT BURDEN
dc.subjectDEBT BURDEN OF LOW-INCOME COUNTRIES
dc.subjectDEBT BURDENS
dc.subjectDEBT CONVERSION
dc.subjectDEBT CONVERSIONS
dc.subjectDEBT CRISES
dc.subjectDEBT CRISIS
dc.subjectDEBT DATA
dc.subjectDEBT DECOMPOSITION
dc.subjectDEBT DYNAMICS
dc.subjectDEBT FORGIVENESS
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT LEVELS
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT MANAGEMENT DEPARTMENT
dc.subjectDEBT MANAGEMENT SYSTEMS
dc.subjectDEBT MANAGERS
dc.subjectDEBT OVERHANG
dc.subjectDEBT POLICY
dc.subjectDEBT PROBLEM
dc.subjectDEBT PROBLEMS
dc.subjectDEBT RATIOS
dc.subjectDEBT REDUCTION
dc.subjectDEBT REDUCTIONS
dc.subjectDEBT RELIEF
dc.subjectDEBT RELIEF INITIATIVE
dc.subjectDEBT RESCHEDULING
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SERVICE
dc.subjectDEBT SITUATION
dc.subjectDEBT STOCK
dc.subjectDEBT STOCKS
dc.subjectDEBT SUSTAINABILITY
dc.subjectDEBT SUSTAINABILITY ANALYSIS
dc.subjectDEBT SWAPS
dc.subjectDEBT-MANAGEMENT STRATEGIES
dc.subjectDEBT-MANAGEMENT STRATEGY
dc.subjectDEBT-RELIEF
dc.subjectDEBT-SERVICE
dc.subjectDEBT-SERVICE OBLIGATIONS
dc.subjectDEBTOR
dc.subjectDEBTOR COUNTRIES
dc.subjectDEBTOR COUNTRY
dc.subjectDEBTOR GOVERNMENT
dc.subjectDEBTOR GOVERNMENTS
dc.subjectDEBTORS
dc.subjectDEBTS
dc.subjectDEBT­ REDUCTION
dc.subjectDEBT ­BURDEN
dc.subjectDEBT­ REDUCTION
dc.subjectDECENTRALIZATION
dc.subjectDEFAULT RISK
dc.subjectDEFICITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDIRECT INVESTMENT
dc.subjectDOMESTIC CAPITAL
dc.subjectDOMESTIC CAPITAL MARKET
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKET
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKETS
dc.subjectEQUITY ISSUANCE
dc.subjectEQUITY ISSUANCES
dc.subjectEVOLUTION OF DEBT
dc.subjectEXCESSIVE DEBT
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORTERS
dc.subjectEXTERNAL BORROWING
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL DEBT BURDEN
dc.subjectEXTERNAL DEBT BURDENS
dc.subjectEXTERNAL DEBT FINANCING
dc.subjectEXTERNAL DEBT MANAGEMENT
dc.subjectEXTERNAL DEBT SITUATION
dc.subjectEXTERNAL FINANCING
dc.subjectEXTERNAL LOANS
dc.subjectEXTERNAL OBLIGATIONS
dc.subjectEXTERNAL PUBLIC DEBT
dc.subjectEXTERNAL SHOCKS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL MARKETS
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTORS
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT EXPENDITURE
dc.subjectGRACE PERIOD
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHUMAN DEVELOPMENT
dc.subjectIMMUNIZATION
dc.subjectINDEBTED COUNTRIES
dc.subjectINDEBTED COUNTRY
dc.subjectINDEBTEDNESS
dc.subjectINFORMATION SYSTEMS
dc.subjectINITIAL DEBT
dc.subjectINSTITUTIONAL INVESTOR
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINVESTING
dc.subjectINVESTMENT FLOWS
dc.subjectLENDERS
dc.subjectLEVEL OF DEBT
dc.subjectLIABILITY
dc.subjectLIABILITY MANAGEMENT
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CRISES
dc.subjectLIQUIDITY PROBLEMS
dc.subjectLOAN
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILITY
dc.subjectMARKET ACCESS
dc.subjectMARKET COUNTRIES
dc.subjectMARKET PRICE
dc.subjectMONETARY FUND
dc.subjectMORAL HAZARD
dc.subjectMULTILATERAL CREDITORS
dc.subjectMULTILATERAL DEBT
dc.subjectMULTILATERAL DEBT RELIEF
dc.subjectNONPAYMENT
dc.subjectODIOUS DEBT
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectPOLICY RESPONSE
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO FLOWS
dc.subjectPRINCIPAL-AGENT PROBLEM
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE CAPITAL INFLOWS
dc.subjectPRIVATE CREDIT
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC DEBT STOCKS
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC SECTOR DEBT
dc.subjectPUBLIC SPENDING
dc.subjectREGULATORY FRAMEWORK
dc.subjectRELIEF MECHANISMS
dc.subjectRELIEF PACKAGE
dc.subjectREPAYMENT
dc.subjectREPAYMENT CAPACITY
dc.subjectRESERVE
dc.subjectRESERVE MANAGEMENT
dc.subjectRESERVES
dc.subjectRISK AVERSION
dc.subjectSHORT MATURITIES
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM LIQUIDITY
dc.subjectSOFT BUDGET CONSTRAINT
dc.subjectSOVEREIGN BOND
dc.subjectSOVEREIGN BORROWERS
dc.subjectSOVEREIGN DEBT
dc.subjectSOVEREIGN DEBTS
dc.subjectSOVEREIGN DEFAULT
dc.subjectSOVEREIGN DEFAULTS
dc.subjectSOVEREIGN ISSUERS
dc.subjectSOVEREIGN RATINGS
dc.subjectSOVEREIGN RISK
dc.subjectSTOCK OF DEBT
dc.subjectSTOCK-OF-DEBT OPERATION
dc.subjectSUPPLEMENTAL FINANCING
dc.subjectSWAP
dc.subjectTRADITIONAL DEBT RELIEF
dc.subjectTRADITIONAL DEBT-RELIEF MECHANISMS
dc.subjectTREASURY
dc.titleDebt Relief and Beyond : Lessons Learned and Challenges Aheaden
dspace.entity.typePublication
okr.date.disclosure2009-11-12
okr.doctypePublications & Research::Publication
okr.doctypePublications & Research::Publication
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20091111232053
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid590451468326219605
okr.identifier.doi10.1596/978-0-8213-7874-8
okr.identifier.externaldocumentum000333037_20091111232053
okr.identifier.internaldocumentum11343390
okr.identifier.report51570
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/11/11/000333037_20091111232053/Rendered/PDF/515700PUB0EPI1101Official0Use0Only1.pdfen
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicInternational Economics and Trade::External Debt
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.unitEcon. Policy & Debt Dept (PRMED)
okr.volume1 of 1
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