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#3557: Extract from Haiti Briefing Number 38 May 2000 : gill comments


the problem with HIPC (Heavily Indebted Poor County) initiative is that it
does not reduce debt significantly in low-income countries.  the IMF has
noted that
assistance under the HIPC Initiative is estimated to actually reduce debt
service by something like 18%.  in fact, the IMF has noted that real
reduction is more like 2% and that some countries are expected to experience
an increse in debt
service even after HIPC assistance!!!!

this is a complicated subject, and one that does not directly relate to
Haiti, but the simple move of writing letters to the President of Italy oir
France is actually quite useless....

on a simplilistic level, having Italy or France (or both) wipe out the debt
owed by Haiti seems productive, but this has nothing to do with HIPC.....

on the surface, removal of debt seems "good", but please note the above
comment that being chosen as one of the "40" nations to receive "reduction"
may in fact cost money!!!!!!!!!!!

mark gill