1887

OECD Development Centre Working Papers

The OECD Development Centre links OECD members with developing and emerging economies and fosters debate and discussion to seek creative policy solutions to emerging global issues and development challenges. This series of working papers is intended to disseminate the OECD Development Centre’s research findings rapidly among specialists in the field concerned. These papers are generally available in the original English or French, with a summary in the other language.

English, French

L'expérience de l'allégement de la dette au Mali

This paper presents the variety of debt relief measures from which Mali has benefited in recent years. Particular emphasis is placed on the 1988 measures accorded by the Paris Club under the Toronto terms, of which the country was the first beneficiary. This relief, and the adjustment policy which Mali formed with it, were relatively successful. Indeed, they led to a cleansing of public finances marked, before the political events of Spring 1991, by the total removal of both domestic and international arrears. The size of the improvement in the situation thus obtained, however, was reduced by the existence of debts with Paris Club members excluded from the Toronto terms and above all by heavy debts with non-Paris Club members (the ex-USSR, China and Arab countries). Debt held by multilateral institutions which was not eligible for rescheduling also represented a large financial burden. As a result, in a short time ...

French

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