Publisher's Synopsis
The Economic Paper series is designed to bring to public attention crucial economic issues which are of concern to developing countries. In recent years the series has examined issues such as the instability of capital flows, the position of small states in the global economy, the implications of new trade agreements, agriculture and food security, money laundering and the reform of global financial arrangements. The publications are readable and aimed at academics, policymakers, students and people with a general interest in understanding these topical issues. The debt problem facing poor countries has been at the heart of Commonwealth concerns since the 1980s. The Heavily Indebted Poor Countries (HIPC) Initiative, especially the enhanced version launched in 1998, has made important strides in providing comprehensive debt relief to the world’s poorest, most heavily indebted countries. The HIPC Initiative has served to cut the total external debt of 26 out of the 42 eligible countries by two-thirds. The report presents the discussions held at the 2003 Dar es Salaam HIPC Ministerial Forum and calls for a number of actions to deal with both immediate concerns and the issues surrounding long-term debt sustainability in HIPCs. This is a timely and significant contribution to the ongoing debate on the way forward to strengthen the HIPC framework. It is presented in a slightly amended form as a Commonwealth Economic Paper.
