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The New World Bank/IMF Debt Sustainability Framework

Does it Live Up to the Human Development Promise?

By Aldo Caliari

Center of Concern, November 20, 2007

In April 2005, the "Debt Sustainability Framework," which rules out discounts debt cancellation, was adopted as the rule for managing debt in low-income borrowing countries. This paper asks the question of whether or to what extent the DSF is consistent with the human development approach to debt sustainability. In carrying out this analysis this paper develops and puts forward five principles that follow from the Human Development approach to debt sustainability and relies on a review of more than forty-three Debt Sustainability Assessments carried out under the Framework since its adoption.

Download: The New World Bank/IMF Debt Sustainability Framework (PDF, 80.26 K)

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