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7153: debt reduction

From: mark gill <doctorgill@clas.net>

> several people have asked me, off list, about the specific reasons Haiti
> 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
> projections of the HIPC initiative, Haiti, using the other methods of
> reduction, has a debt well below the 150% stated above...........plus,
> 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
> reduction" are......at least, they are not listed in any of the data i
> 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