This paper presents a critical approach to the policy debate about external debt sustainability and debt relief in the High Indebted Poor countries (HIPC). The authors look at the different approaches to and models of debt sustainability and claim that a realistic evaluation of this issue...

Arnone and Presbitero analyze the design and the implementation of the Heavily Indebted Poor Countries (HIPC) Initiative, by pointing out its main drawbacks and suggesting a different approach to debt sustainability and debt relief programs

In this paper we broaden the standard debt sustainability framework used in the IMF-WB Heavily Indebted Poor Countries (HIPC) Initiative to include the analysis of domestic public debt and other feedback effects into the usual debt sustainability analysis (DSA). The latter does not take into...