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Journeys Just Begun: From Debt Relief to Poverty Reduction

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Journeys Just Begun: From Debt Relief to Poverty Reduction

Published: October 4, 2001

The two essays in this  report critically examine the adequacy of the Heavily Indebted Poor Countries initiatives and the more general issue of financing for the poorest countries. The first essay (by John Serieux) surveys the key results from a North-South Institute research project comprising five HIPC case-studies1 (Bolivia, Ethiopia, Mali, Nicaragua and Uganda). The second2 (by Roy Culpeper) examines how the global financial system has served the poorest countries badly, by inducing a chronic debt overhang and doing little for long-term development. Both essays pose the question: what, if anything, do debt relief and development financing offer in the struggle against, and eradication of, poverty?

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