[lbo-talk] G8 debt plan

Doug Henwood dhenwood at panix.com
Mon Jun 13 07:49:27 PDT 2005


Marvin Gandall wrote:


>Are there such provisions in the agreement, which I haven't read or
>seen reported in any detail? When the IMF imposes an austerity plan,
>that is certainly "tied" relief.

The writeoffs are being granted to countries that complete the HIPC (Highly Indebted Poor Country) process, which means, essentially, more structural adjustment programs. According to today's FT, Uganda, the poster country for the whole process, saw the share of its pop in absolute poverty (by the World Bank def of living on <$1/day) rise from 30% to 34% between 2000 and 2003.

Doug



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