Hiccups In HIPC Prompt A Search For New Approaches

Goodale proposes "cash on the dash" for the world's most indebted countries

Published April 20, 2005

Canada should enlist other rich lenders and overhaul a highly contentious debt forgiveness scheme that is stifling growth in most of the world's poorest countries, according to James Harmon, the former chairman of the United States Export-Import Bank (1997-2001).

"HIPC [the Heavily Indebted Poor Countries Initiative] has not worked," Mr. Harmon, the chair of the Commission On Capital Flows to Africa,...

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