Overview

The debt problems of poor countries are receiving unprecedented attention. Both federal and non-governmental organizations alike have been campaigning for debt forgiveness for poor countries. The governments of creditor nations responded to that challenge at a meetings sponsored by the G-7, International Monetary Fund, and World Bank, all of which upgraded debt relief as a policy priority. Their initiatives provided for generous interpretations of these nation' ability to sustain debt, gave them opportunities to qualify for debt relief more rapidly, and linked debt relief to broader policies of poverty reduction. Despite this, the crisis has only deepened in the first years of the new millennium.

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John Serieux completed this volume as a senior researcher and specialist in international finance for the North-South Institute, an independent research institute based in Ottawa, Canada. Before that he was a lecturer at the graduate program in economics at Chancellor College, at the University of Malawi. His major works are in domestic and foreign resource mobilization. Yiagadeesen Samy is completing his doctoral research in economics at the University of Ottawa in international trade and economics of development. His key interest is now in trade and labor standards.

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