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Debt Sustainability and the MDGs in Emerging Market Economies

The fifth in a series of discussion papers on MDGs and debt sustainability, this paper reviews a highly diverse group of middle-income countries and their sovereign debt. It assesses the IMF approach to debt sustainability and makes recommendations on how the MDGs could be incorporated into themore

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Debt Sustainability in HIPC and other Critically Indebted Developing Countries

The fourth in a series of discussion papers on MDGs and debt sustainability, this paper reviews the evidence of the HIPC initiative. Despite significant levels of debt relief through this initiative, in 11 out of 13 countries, debt ratios have deteriorated. The paper makes proposals to enhance themore

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Domestic Resource Mobilization, Fiscal Space, and the MDGs

The first in a series of discussion paper on MDGs and debt, this paper argues that domestic resource mobilization is an important alternative to external borrowing. Examining two forms of domestic resource mobilization, tax revenues and domestic borrowing, it concludes with findings and policymore

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External Debt and the Millennium Development Goals

This second discussion paper on debt and Millennium Development Goals presents an innovative framework for restructuring payments on external debt. The proposed framework links debt payments to a country’s ability to meet the MDGs (or what countries can afford after their vital MDG expendituresmore

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Illicit Financial Flows from the Least Developed Countries 1990-2008

This paper explores the scale and composition of illicit financial flows from the 48 LDCs. This issue has been recognised by the UN as important for development and the MDGs. Illicit capital flight is a major hindrance to the mobilisation of domestic resources for development. Through the UN, themore