December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
Growth and development
KEY THINKER
Jeffrey Sachs (1954–)
BEFORE
1956 The Paris Club, a grouping of creditor nations, was established to facilitate debt relief between individual countries.
AFTER
1996 The IMF and World Bank launch the Heavily Indebted Poor Countries (HIPC) initiative to give debt relief and initiate policy reform in poor countries.
2002 Seema Jayachandran and Michael Kremer argue that countries may not be legally liable for “odious” debts incurred by corrupt regimes.
2005 G8 countries agree to write off $40 billion of debt under the Multilateral Debt Relief Initiative (MDRI) as part of the Gleneagles summit.
In the last few ...
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