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Debt Relief and the Rule of Thumb: Analytical History of HIPC Debt Sustainability Targets

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  • Peter Hjertholm

Abstract

This paper traces the origins of HIPC debt sustainability targets. These targets are interpreted as 'switching values', below which countries are expected to avoid debt service problems, but as such, they do not take into account that countries encounter debt problems for a variety of reasons and at different levels of debt. Most likely the 'true' switching value of the debt-to-export ratio of many HIPCs lies below or above the present target.

Suggested Citation

  • Peter Hjertholm, 2001. "Debt Relief and the Rule of Thumb: Analytical History of HIPC Debt Sustainability Targets," WIDER Working Paper Series DP2001-68, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:dp2001-68
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2001-68.pdf
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    Citations

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    Cited by:

    1. Yilmaz Akyüz, 2007. "Debt Sustainability in Emerging Markets: A Critical Appraisal," Working Papers 61, United Nations, Department of Economics and Social Affairs.
    2. Robert Darko Osei & Peter Quartey, 2001. "The HIPC Initiative and Poverty Reduction in Ghana," WIDER Working Paper Series DP2001-119, World Institute for Development Economic Research (UNU-WIDER).
    3. Olav Bjerkholt, 2004. "New approaches to debt relief and debt sustainability in LDCs," CDP Background Papers 005, United Nations, Department of Economics and Social Affairs.
    4. Mr. Robert Powell, 2003. "Debt Relief, Additionality, and Aid Allocation in Low Income Countries," IMF Working Papers 2003/175, International Monetary Fund.
    5. Marco Arnone & Luca Bandiera & Andrea Presbitero, 2005. "External Debt Sustainability: Theory and Empirical Evidence," International Finance 0512007, University Library of Munich, Germany.

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