Debt reduction, either through stock of debt reduction or debt service reduction based on a concessional rescheduling, will continue to be considered only in exceptional cases.

Consultative Work (Vietnam) poverty reduction program in northern mountainous areas.

In mid 1994, the EOS program was redesigned to respond to a reduction in program budget through the year 2000.

We decided to do something about it, but we didn't begin with a welfare program or a poverty reduction program.

Indonesia's success in family planning program is well recognized internationally. This program has contributed significantly to the reduction of its population growth, due to the reduction of its Total Fertility Rate (TFR).

Secondly, debt cancellation and reduction should be extended and intensified.

21. Stresses that debt relief should contribute to development objectives, including poverty reduction, and in this regard urges countries to direct those resources freed through debt relief, in particular through debt cancellation and reduction, towards these objectives

Such a debt conversion program would offer five benefits. For starters, unlike the ECB s current quantitative easing, it would involve no debt monetization.

Undoubtedly, debt reduction and increased aid have a role to play in this process.

Noted the request of Iraq for the cancellation or reduction of their sovereign debt.

The National Target Program on Hunger Eradication and Poverty Reduction has helped improve living conditions of many households.

For many heavily indebted non HIPC and middle income countries, debt sustainability will require significantly more debt reduction or restructuring than has yet been proposed.

External debt posed a pressing problem and restricted the Government's ability to implement poverty reduction programmes.

Finally, GDP indexed bonds and other tools for dealing sensibly with unsustainable debt could be applied exclusively to member states debt not covered by the program and in line with international best practices for sovereign debt management.

United States National Marine Fisheries Service (NMFS, 2004), Alaska Crab Fisheries Capacity Reduction Program , (see www.fakr.noaa.gov sustainablefisheries crab faq.htm), 2004.

Fifth, debt burdens that cannot be eased by growth, savings, or inflation must be rendered sustainable through orderly debt restructuring, debt reduction, and conversion of debt into equity. This needs to be carried out for insolvent governments, households, and financial institutions alike.

Total debt relief accorded to the 27 countries that have reached either the decision point or the completion point, together with other debt relief measures, represents a two thirds reduction in these countries' overall debt stock.

This tax credit replaces the family benefits program, the non refundable tax credit for dependent children and the tax reduction for families.

The appropriate amount of debt reduction should be measured against the explicit development objectives defined by the NEPAD process.

One can easily imagine the ranting in Germany about this kind of program still more debt! Loss of control over our assets!

Saddled with debt, reparations and oil capacity constraints, and with the security situation highly uncertain, Iraq has yet to achieve self sustaining economic growth despite the reduction in Paris Club debt.

Moreover, a debt reduction in the form of further interest rate reductions and maturity extensions on foreign government held debt would not hurt financial markets. But debt held by the European Central Bank and the IMF could pose a problem.

a An option was included to convert US 30 year bond into a US 12 year bond with debt reduction.

Criteria for debt relief should be focused on the effective utilization of the resources released for poverty reduction and growth.

In short there is a significant ERW reduction program in place in Iraq however it is absorbing a significant amount of the available effort.

The most reasonable comparison is with Latin American countries during their debt crises in the 1980 s and 1990 s. Despite significantly lower debt GDP ratios and continuous debt restructuring, they eventually needed the large debt reduction that came with the issuance of Brady bonds to achieve some breathing room.

Reduction of debt service burdens can release domestic resources that can be allocated to slum upgrading or other urban developing activities.

REAFFIRMS also that implementation of the ICPD Program of Action is key to poverty reduction and is fundamental to achieving the Millennium Development Goals (MDGs).

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.

This week, Greece defaulted on its payments to the IMF, rightly choosing pensions over debt service. The country s creditors should now negotiate a consensual debt reduction through some combination of lower (and fixed) interest rates, reduced face value of debt, and very long maturities.

A reduction of domestic public debt could also help to boost growth by freeing resources for the productive sectors of the economy.

The aim of Italian Eurosceptic government was that the budget deficit was equivalent to 2.4 of gross domestic product (GDP) in the next three years, suggesting that there was no debt reduction despite deficit reduction requirements.

In line with the growing consensus on the need for significant debt reduction for African countries, as evidenced in the above mentioned reports and the widespread support given to the proposals of the United Kingdom Government, the international community should endorse, in the context of the Millennium Development Goals, a comprehensive debt reduction to benefit all heavily indebted countries in sub Saharan Africa and substantial debt relief for middle income countries.

Since 1999, the poverty reduction strategy papers have become the overall framework for lending, debt relief and development cooperation in low income countries.

17. Recognizes the difficulties of highly indebted middle income developing countries and other highly indebted middle income countries in meeting their external debt and debt servicing obligations, and notes the serious situation in some of them in the context, inter alia, of significant liquidity constraints, which may require debt treatment, including, as appropriate, debt reduction measures

The task force agreed that poverty reduction and promotion and protection of human rights should be key considerations in finding solutions for debt sustainability.

The countries of the North must fulfil their commitments in matters of trade, debt reduction and enhancing the quality of aid and good practices.

Fourth, the spirit of the Maastricht rule on public debt would be reinforced, and moral hazard would be reduced. After all, the program would boost significantly the interest rate spread between Maastricht compliant debt and the debt that remains in the member states hands (which they previously were not permitted to accumulate).

There is a real need for significant debt reduction or restructuring, not only for the least developed countries but also for middle income developing countries.

In these circumstances, it is not surprising that financial markets have returned to extreme volatility. The expenditure cuts mandated by the outcome of the debt ceiling debate will reduce economic activity, thereby undermining growth and making debt reduction even more difficult.

My Petersen Institute colleague Carmen Reinhardt suspects that financial repression will be the main debt reduction method governments will rely on regulation and manipulation to force savers to pay down public debt through negative real returns on their bond investments.

For most HIPC countries, this will require exclusively grant based finance and 100 per cent debt cancellation, while for many heavily indebted non HIPC and middle income countries, it will require significantly more debt reduction than has yet been on offer.

Acknowledged that developing country efforts to achieve and maintain debt sustainability should be supported by international assistance in the area of debt management and, where appropriate, by consideration of the provision of concessional finance and modification, including reduction of aid conditionalities

NEW YORK Like individuals, corporations, and other private firms that rely on bankruptcy procedures to reduce an excessive debt burden, countries sometimes need orderly debt restructuring or reduction. But the ongoing legal saga of Argentina s fight with holdout creditors shows that the international system for orderly sovereign debt restructuring may be broken.

Improve individual countries domestic policy mix in a manner that targets debt sustainability through both growth promotion and deficit reduction, especially in the most vulnerable peripheral economies