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Mechanisms for bilateral debt reduction.

By:

CACERES, Luis Rene

Material type: Text

TextPublication details: 1996Action note:

3/7/00 M2LMGR

Summary: Argues that new mechanisms are required to reduce the bilateral debts of lesser developed countries to manageable levels. This reduction is necessary as the debt overhang inhibits these countries from gaining access to international financial markets and because high levels of debt reduce domestic savings and investment. Notes that the Paris Club mechanisms have fallen short of providing a definite resolution to bilateral debt problems.

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Argues that new mechanisms are required to reduce the bilateral debts of lesser developed countries to manageable levels. This reduction is necessary as the debt overhang inhibits these countries from gaining access to international financial markets and because high levels of debt reduce domestic savings and investment. Notes that the Paris Club mechanisms have fallen short of providing a definite resolution to bilateral debt problems.

3/7/00 M2LMGR

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