Marc Raffinot

Curse or Blessing? Has the Impact of Debt Relief Lived up to Expectations? A Review of the Effects of the Multilateral Debt Relief Initiatives for Low-Income Countries

Abstract As the multilateral debt relief initiatives draw to a close, this article reviews the impacts of debt relief to low-income countries (LICs) building on both the theoretical and empirical literature of past decades. We show that, while the pioneering studies of the early 2000s are inconclusive, the most recent analyses overcome certain methodological impediments to highlight significant multilateral debt relief initiative effects. These analyses hence suggest that these large-scale programmes may well have met expectations, at least in part.

Croissance et réduction de la pauvreté au Mali: quelques éléments de réflexion

ABSTRACT Considered an “A-student” by the Bretton Woods Institutions, Mali benefitsfiom debt relief: Growth resumed afier the 1994 devaluation, but poverty did not decrease significantly. The Poverty Reduction Strategy Paper gives priority to investment in education and health. In countries like Mali, the effectiveness of such policies is questionable, at least in the short or medium run. We propose to focus on the dynamics of poverty reduction. To promote equality of opportunity, redistribution issues should be taken into consideration, but also ways of promoting an increase in rainfed agriculture and steady job creation in urban areas.