Debt relief for low income countries: is it effective and efficient?

Article Abstract:

The consequences of debt relief assistance for the economy of poor countries are examined to determine if it is the most effective way of helping these economies. Data on debt stocks and resource flows and the resource influence of debt relief are studied; and the financial effects of channelising resources via debt relief instead of through loans or grants are discussed, considering issues like debt overhang and moral hazard. It is concluded that debt relief offers only minimal economic benefits for poor economies. The reasons behind this assistance still being used so widely are discussed, and the distinctions between debt relief rhetoric and reality are clearly drawn.

Scientific Research and Development Services, Development, Economic Programs-Total Govt, Administration of Economic Programs, Economic development, External debt relief, Debt relief

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From Bretton Woods to Halifax and beyond: the political economy of international monetary reform

Article Abstract:

A truly fundamental reform in the international monetary system can only be achieved when several requisites are complied with. A reform is deemed to be fundamental when it covers the adjustment mechanism, financing mechanism and systemic management of the monetary system. A general agreement must be reached regarding the existence of a crisis and on its possible solutions. Reform must also enjoy political support from assessor countries.

International Affairs, Intnl Finance Organizatn, Analysis, Economic policy, International finance, International financial institutions

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Too much of a good thing: the adequacy of international reserves in the aftermath of crises

Article Abstract:

The old theory of reserve adequacy and optimality is analyzed in relation with the current scenario. The relation between reserve adequacy and currency crisis is explored through empirical research.

Management dynamics, Management, Company business management, Foreign exchange reserves, Global economy, Financial crises

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