(d) Debt burden

Cutting the burden of Africa's debt

Equally worrying is Africa's unsustainable debt burden.

Africa needs debt cancellation, as no growth can take place with a heavy debt burden.

His delegation therefore supported the application of the debt burden adjustment based on the debt stock approach.

To free a neck (from the burden of debt or slavery),

To free a neck (from the burden of debt or slavery),

There are also middle income, high debt developing countries that need a reprieve from the debt burden they face.

The debt burden adjustment was an integral part of the scale methodology, for external debt not only affected a country's capacity to pay but also placed a significant burden on its economy.

Africa's heavy debt burden remains a major drain on its development potential.

To address the debt burden problem, many African countries at first resorted to repeated debt rescheduling which focused on debt service flows, resulting in steadily increasing debt stocks and related service payments.

Taking note with great concern of the debt burden of many African countries, as debt servicing continues to drain the limited resources for development,

Indeed, increased debt servicing obligations resulting from higher interest rates, along with weakening export prospects, ran the risk of reproducing an unsustainable debt burden.

However, while the HIPC initiative has removed the debt overhang for many countries, the burden of debt service payments remains high (see table 1).

The debt burden adjustment must continue to be applied as a mark of the international community's solidarity with countries burdened by debt, particularly LDCs.

(d) The debt burden approach employed in the scale of assessments for the period 2004 2006

(d) The debt burden approach employed in the scale of assessments for the period 1995 1997

More ambitious pan European efforts are embodied in various Eurobond proposals. These schemes imply socialization of debt taxpayers elsewhere in Europe would share a country s debt burden.

Kyrgyzstan supports the view that an acceptable debt level needs to be defined and that measures are urgently required to lighten the debt burden for developing countries.

The debt burden adjustment should be retained as an element of the scale methodology because external debt had a substantial impact on Member States' capacity to pay.

Against the backdrop of better growth and export prospects in developing countries in general, the recent trends revealed a smaller accumulation of debt and lower debt service burden.

Significant steps had also been taken to reduce the debt burden of the most heavily indebted poor countries.

In such a situation, the only option available for the Government was to seek debt restructuring to alleviate the debt burden or to have short term cash flow relief.

History offers two clear lessons reducing public debt is incredibly difficult without growth, and increasing growth is incredibly difficult with a huge burden of public debt. So we face a twofold imperative securing growth while reducing debt.

We recognize that the agreement does not cover bilateral debt and debt owed to other multilateral credit institutions, and we call for measures to address those issues in order to address the debt burden in Africa comprehensively.

Significant steps have also been taken to reduce the burden of debt on the most heavily indebted poor countries.

(e) To reduce the unsustainable debt burden of developing countries through such actions as debt relief and, as appropriate, debt cancellation and other innovative mechanisms geared to comprehensively addressing the debt problems of developing countries, in particular the poorest and most heavily indebted ones

The burden of servicing debt and the payment of arrears have a suffocating effect on the economies of developing countries.

Currently, LDCs' development efforts were offset by their narrow production base, heavy debt burden and lack of competitiveness and investment.

Kenya continues to struggle with its huge debt burden, with about 30 per cent of all our revenues from the export of goods and services going to service the external debt.

15. Invites creditors and debtors to continue to use, where appropriate and on a case by case basis, mechanisms such as debt swaps for alleviating the debt burden of low and middle income developing countries with an unsustainable debt burden that are not eligible for the Heavily Indebted Poor Countries Initiative, and takes note of the discussions and assessment by the Paris Club of the proposal for Debt for Equity in Millennium Development Goal Projects

19. Invites creditors and debtors to continue to use, where appropriate and on a case by case basis, mechanisms such as debt swaps for alleviating the debt burden of low and middle income developing countries with an unsustainable debt burden that are not eligible for the Heavily Indebted Poor Countries Initiative, and takes note of the discussions and assessment by the Paris Club of the proposal for Debt for Equity in Millennium Development Goal Projects

We intend to free up resources for development particularly in Africa by rescheduling and easing the debt burden of developing countries.

Noting with concern the continuing debt and debt servicing problems of heavily indebted developing countries as constituting an element that adversely affects their development efforts and economic growth, and stressing the importance of alleviating once and for all, where applicable, their onerous debt and debt service burden with the aim of attaining a sustainable level of debt and debt service,

Canada's total government sector has also achieved the sharpest decline in the debt burden among G 7 countries since the mid 1990s.

Urges that the approach in the debt settlement should cover all types of debt, including multilateral debt, and all indebted developing countries, and incorporate measures aimed at a once and for all reduction arrangement to reduce their debt burden to a scale that would allow them to resume their economic growth and development.

Furthermore, it is clear from the Secretary General's report that the external debt burden is having an adverse effect on the achievement of the Millennium Development Goals and that Africa's debt, in particular, is unsustainable.

Had Greece quickly written down its debt burden by two thirds, it would have been able to shed its crushing debt overhang. It could have used a portion of the interest savings to recapitalize the banks.

Or is it that you ask of them any recompense so that they should fear to be weighed down under the burden of debt?

Or is it that you ask of them any recompense so that they should fear to be weighed down under the burden of debt?

Exports had virtually been halved since the late 1990s, and the debt burden had increased by some 60 per cent during the same period.

Regrettably, those efforts are being hampered by limited access to the markets of developed countries, low disbursements of development assistance and the debt burden.

Children in the developing world were born with a burden of debt which must be reduced if they were to reach their full potential.

Public sector debt will surpass 1.7 trillion, approaching 80 of GDP. Interest payments, which consume more than 10 of Germany s federal budget, will grow along with the mounting debt burden and even faster if interest rates rise.

With a smaller debt burden and interest payments, Egypt s fiscal position would improve significantly, and threats to economic growth would recede. Foreign lenders resulting caution would prevent future Egyptian governments from irresponsibly saddling their populace with debt.