This paper relates the challenge of debt and the opportunities of debt reduction to the task of achieving the Millennium Declaration Development Goals, major new benchmarks for progress in development and reduction in poverty, inspired by a series of UN Conferences of the 1990s. It illustrates...

he record of aid to fragile and poorly-performing states is the real test of aid effectiveness. Rich countries can justify aid to fragile states both through altruism and self-interest. But, with some exceptions, donors have appeared at the wrong times and with the wrong attitudes, even...