In addition to estimating financing gaps and identifying the sources of financing (including different scenarios of debt rescheduling), DSA includes an analysis of debt dynamics to determine the stability of debt to GDP or debt to government revenue ratios.

We must also bear in mind the role that debt plays as a financing tool for development debt financing is appropriate only where there is a reasonable expectation that loans will be repaid.

Questions related to the financing of Africa's development and debt were also discussed.

In addition, progress in the work on trade, debt and financing issues was important.

7. Emphasizes in this regard that debt relief does not replace other sources of financing

7. Emphasizes in this regard that debt relief does not replace other sources of financing

The value of innovative sources of financing for development had been recognized and agreement had been reached on considering additional measures to ensure long term debt sustainability through increased grant based financing, cancellation of the official multilateral and bilateral debt of Heavily Indebted Poor Countries, and debt relief or restructuring for low income and middle income developing countries with unsustainable debt burdens.

(g) Bolivia External debt and its influence in the eradication of poverty entailment with commerce, financing and poverty

For their part, developed countries must deliver on their pledges to boost financing for development and relieve debt.

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development, which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

Donors as well as recipients must ensure consistency between financing and absorptive capacity. They must also ensure that additional official financing and debt relief will not distort incentives or create moral hazard.

2. Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can contribute to economic growth and development

There is a greater need for the countries to try to make debt finance a positive source of financing for development.

We support the movement towards debt forgiveness, and we also believe in the creative identification of alternative sources of financing aid for development.

Of course, the various components of debt differ considerably in their character and sources of financing and thus in their sustainability. But all parts of a country s total debt and how it is financed are interconnected.

Greece s recent financing package, overseen by the Troika, gave the country much less debt relief than it needed. But, even with significantly more public debt relief, Greece could not return to growth without rapidly restoring competitiveness.

Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for economic growth and development

The Committee would be addressing several other issues requiring special attention, including external debt and debt problems of countries which did not belong to the HIPC group, financing for development, globalization and interdependence and international migration.

2. Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for economic growth and development

2. Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for economic growth and development

Options include international debt financing, domestic tax revenue and user fees, borrowing in domestic capital markets, and public private partnerships for water related investments.

26. We emphasize the high importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for development. To this end

The cost of fully covering IMF debt stock relief, without undermining the Fund's financing capacity, should be met by the use of existing IMF resources.

We welcome the declaration by the Group of Eight favouring debt cancellation, time bound commitments for enhanced ODA and the efforts for additional innovative financing.

Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

Emphasizes the high importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for economic growth and development, and emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

The measures outlined in the areas of financing for development, debt cancellation, trade promotion, investment and other specific areas of development need to be fully implemented.

We welcome the declaration of the Group of Eight favouring debt cancellation, time bound commitments for enhanced official development assistance, and efforts for additional innovative financing.

7. Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

Only the European Central Bank could implement true socialization of national debt in the eurozone. But EU law expressly forbids any form of ECB financing of deficits.

The International Conference on Financing for Development brought together issues that used to be tackled separately, such as trade, debt, investment, official development assistance and systemic issues.

In October 2003, Paris Club creditors agreed on the Evian approach to deal with the debt of non HIPC low income and middle income countries, taking into account not only the financing gaps but also the medium term debt sustainability of these countries.

Recalling paragraph 26 of the 2005 World Summit Outcome, emphasized the great importance of a timely, effective, comprehensive and durable solution to the debt problems of African countries, since debt financing and relief can be an important source of capital for development

Emphasizing the need to ensure that debt relief does not replace other sources of financing, and welcoming in this regard the letter dated 13 September 2005 to the President of the World Bank from the Finance Ministers of the Group of Eight on its debt proposal in which it is acknowledged that the key element of the proposal is that debt relief will be fully financed by donors to ensure that the financing capacity of international financial institutions is not reduced,

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development,Report of the International Conference on Financing for Development, Monterrey, Mexico, 18 22 March 2002 (United Nations publication, Sales No. E.02.II.A.7), chap. I, resolution 1, annex. which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

Recalling also the International Conference on Financing for Development and its outcome,Report of the International Conference on Financing for Development, Monterrey, Mexico, 18 22 March 2002 (United Nations publication, Sales No. E.02.II.A.7), chap. I, resolution 1, annex. which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development,Report of the International Conference on Financing for Development, Monterrey, Mexico, 18 22 March 2002 (United Nations publication, Sales No. E.02.II.A.7), chap. I, resolution 1, annex. which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

Reaffirming the Monterrey Consensus of the International Conference on Financing for Development,Report of the International Conference on Financing for Development, Monterrey, Mexico, 18 22 March 2002 (United Nations publication, Sales No. E.02.II.A.7), chap. I, resolution 1, annex. which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

Recalling also the International Conference on Financing for Development and its outcome,Report of the International Conference on Financing for Development, Monterrey, Mexico, 18 22 March 2002 (United Nations publication, Sales No. E.02.II.A.7), chap. I, resolution 1, annex. which recognizes sustainable debt financing as an important element for mobilizing resources for public and private investment,

While developing countries agree that domestic resources need to be mobilized as much as possible, it is also important that developed countries promote international trade in the interest of development, increase official development assistance (ODA) and work towards sustainable debt financing and external debt relief.

Likewise, while limiting the deductibility of net interest for corporations, as many other developed countries have done, would broaden the tax base and discourage excessive reliance on debt financing, it would increase the tax burden on major investments in physical capital, which are often debt financed.

Fiscal consolidation in the Mediterranean countries might just do the trick, and allow at great cost a return to normal financing arrangements. But if market nervousness persists and interest rates remain high relative to rates for secure German debt, the debt burden will rapidly become unsustainable.

How much government debt is too much is an open question, because tolerance for public debt is highly dependent on prevailing perceptions. The risk premium attached to the interest rate is the critical variable once it starts rising, the existing rate of deficit financing becomes unsustainable.

The G 8 summit will focus this year on Africa and we will be working closely with our partners in the G 8, including on development financing and debt relief.

What the market is saying is not that the economy has too much debt, but that it has too much private debt, which is why prices of corporate bonds are low and firms find financing expensive. The market is also saying clearly and repeatedly that the economy has too little public US government debt, which is why everyone wants to hold it.