1945

Conclusions

The analysis illustrates the weaknesses of the HIPC approach with respect to finding a permanent exit solution to the debt crisis of African HIPCs, and highlights the fact that several other equally poor African countries have been left out of the process. On the question of the level of debt deemed to be sustainable for countries the majority of whose population lives on less than one or two dollars a day per person, the answer is self-evident: considering the seriousness with which the international community is addressing the attainment of the MDGs, these targets should be used as a major benchmark for debt sustainability. This in turn implies that virtually all of the outstanding debt would need to be written off, as the resources needed to attain these goals are substantial.

Related Subject(s): Economic and Social Development
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