Allegement de la dette pour les plus Pauvres - examen OED de l'Initiative PPTE

Content Provider	Semantic Scholar
Author	Gautam, Madhur
Copyright Year	2003
Abstract	The Heavily Indebted Poor Countries (HTPC) Debt Initiative marks a major innovation in the development finance regime. The Initiative also marks a significant break with the past in how development aid is approached. Its design embodies lessons of experience linking aid effectiveness with the policy environment and aid coordination, conditionality with ownership, and social impacts of macroeconomic policy reforms with public expenditure prioritization. Excessive debt creates problems, and must be dealt with effectively. Yet unmanageable debt is a symptom of deeper structural problems. While providing much-needed respite, as the Initiative appears likely to do, debt relief is not a panacea for broader economic development problems, nor is a one-time debt reduction a guarantee that the problem will not re-emerge. The biggest challenge facing the Initiative is the expectations of what it can achieve at current funding levels given policy and institutional constraints. Achieving its multiple objectives requires actions that are well beyond the scope and means of the Initiative. The achievement and sustainability of the individual objectives require actions by HIPC governments to promote exports and broad-based growth, together with human capital development, for sustained poverty reduction. The review makes four recommendations. The first is to clarify the purpose and objectives of the Initiative, ensure that its design is consistent with these objectives, and communicate both the objectives and how they are to be achieved clearly to the global community. The second recommendation is to improve the transparency of the methodology and economic models underlying the debt projections and the realism of the economic growth forecasts in the debt sustainability analyses, to guide decisionmaking through a better assessment of the prospects and risks facing individual countries. The third recommendation is to maintain the standards for policy performance. And when the established criteria are to be relaxed, provide a clear and transparent rationale to ensure that the risks to achieving and maintaining the Initiative's objectives are minimized. Finally, the review recommends that there needs to be a greater focus on pro-poor growth to provide a better balance among development priorities relative to the current emphasis on social expenditures.
Starting Page	1
Ending Page	134
Page Count	134
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://documents.worldbank.org/curated/en/901701467996703560/pdf/25952Fren-ver-08213556860010.pdf
Alternate Webpage(s)	http://documents.worldbank.org/curated/en/223831468782383325/pdf/251600HIPC1French.pdf
Alternate Webpage(s)	https://ieg.worldbankgroup.org/sites/default/files/Data/reports/hipc_french.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article