POLB90H3 Lecture Notes - Lecture 12: World Trade Organization, Microcredit, Modernization Theory
8 Dec 2015
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Document Summary
An initiative of the wb and imf for the 39-40 of the poorest countries in the world countries. An effort to eliminate unsustainable debt i the world"s poorest. 1999, program was revised and made more flexible so more countries would enter the program. Heavily indebted poor countries initiative (hipc: face a heavy debt burden, prudent, imf supervised economic program- fiscal restraint, poverty reduction with civil society participation (poverty market liberalization reduction strategy papers prsps) A road map which identified which programs a country would have to reduce poverty. 35 (sub-saharan africa) countries are receiving debt relief. Relationship to mgd"s & sustainable development goals: if a country follows hipc, healthy economic growth rates and poverty reduction will follow. Criticisms: inappropriateness of criteria for eligibility (ie. export earnings, the actual debt reduction is very small, only modest increases in social spending, participation may not be substantial.
