7153: debt reduction

[Bob Corbett <corbetre@webster.edu>]

From: mark gill <doctorgill@clas.net>


> several people have asked me, off list, about the specific reasons Haiti
was
> not included as qualified for the HIPC (debt reduction program)
>
> thus, I can say the following, for those interested:
>
> the HIPC states that for a country to qualify, it must have unsustainable
> debt, which is defined as any amount higher than 150% of export revenue
> AFTER receiving debt reduction from traditional sources.  And, based on
the
> projections of the HIPC initiative, Haiti, using the other methods of
> reduction, has a debt well below the 150% stated above...........plus,
this
> initiative requires a significant commitment on the part of a country to
> reduce poverty and increase economic growth by developing and showing
> implementation of both social and economic development programs..........
>
> .......what the Initiative does NOT say is what the "traditional methods
of
> reduction" are......at least, they are not listed in any of the data i
have,
> and i have most of it........further, the Initiative does not actually
> mention that those countries that are unstable in terms of basic
> institutions are also not included, altho in truth, such countries are
> excluded...........institutional stability is one of the requirements, but
> due to "diplomacy", it is not stated in a firm manner........
>
> let me say that the above does not represent my personal view, but rather
> the views of the HIPC..........(just in case someone wants to think i am
> being "anti-Aristide)............
>
> Mark Gill
>