Conditioning Debt Relief on Adjustment: Creating the Conditions for More Indebtedness
1999
Argues that there is a positive linear relationship between the number of years that countries implement adjustment programs and increases in debt levels. Rather than leading countries out of situations of unpayable debt levels, the HIPC program and others conditioned on the implementation of SAPs would likely push participating countries further into a tragic circle of debt, adjustment, a weakened domestic economy, heightened vulnerability, and greater debt.[author]
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