This paper is a review of the different approaches on external debt sustainability. The Heavily Indebted Poor Country … (HIPC) Initiative was launched to assure a permanent exit from debt dependence. However, the IMF-World Bank program is not … without faults, in particular for what concerns debt sustainability analysis. The aim of this work is to present the IMF …

ensure that interest rates payable on loans sufficiently compensated lenders for the erosion to the real value of the … after 1976 was transmitted worldwide and as a result, the rate of interest on Malawi debt rose (by 373%) from only 1.9% in … consumed by balance of payments deficits caused by the first and second round of the oil crises. The paper also finds that …

such a strong interest in ensuring the stable growth of the international capital flows. And yet, the question for …

Between 1989 and 2003, low-income countries received $100 billion in debt relief. The stated objectives for much of … this debt relief have been to reduce debt overhang and to free up recipient government resources for development spending … that would otherwise have been used for debt service. In this paper we empirically assess the extent to which debt relief …

of payments variables my thesis evaluates whether debt cancellation will overcome the debt overhang and crowding out …On the basis of models I developed to simulate mathematical relationships between external debt and fiscal and balance … effects of external debt and allow Severely Indebted Low Income Country (SILIC) economies to meet their current and future …

BALANCE OF PAYMENTS ADJUSTMENT MECHANISM. THE ESSENCE OF THE APPROACH IS A CONSISTENT INSISTENCE THAT BALANCE OF PAYMENTS IS A …

contradictory or incomplete because it focuses on deficit rather than debt, the main indicator of public finances' soundness …. Furthermore the few references to debt that were present in the treaties are essentially ignored in actual practices. Some of the … reform proposals that came out lately have addressed the issue, and tried to embed a debt criterion in the Pact. We review …

disproportionate to the debt service capacities of developing countries. The collapse of commodity prices, high interest rates and …-finance maturing debt from fresh loans. The paper also observes that western bankers ignored signals of an imminent debt crisis and … worsened the debt portfolio of third world countries by refinancing maturing loans with shorter maturities. These countries …

opening, exchange rate policies, alternatives to debt financing and the role of the international financial institutions. The … 1991 and 2001, together with the lack of nationally coherent fiscal and development policies, led to a classic debt …