IV. Foreign debt, expansion of grant financing

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.

The Senior Economic Affairs Officer, Financing for Development Office, Department of Economic and Social Affairs, and the Chief, Debt and Development Finance Branch, United Nations Conference on Trade and Development, made introductory statements.

(v) Identification of a feasible debt financing instrument and securitisation and

Developing countries also had to be given debt relief, including grant based financing and 100 per cent debt cancellation.

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

Additional financing was also needed to enable developing countries to achieve debt sustainability.

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.

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

13. The external debt crisis was closely linked to the inadequacy of development financing.

Clearly, current debt relief initiatives enable our countries to use precious resources for financing development, but they do not ensure our debt sustainability.

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

His Government, which was extremely interested in the question of external debt, would participate in the financing of the Heavily Indebted Poor Countries Debt Initiative.

48. The problem of external debt was closely linked to the issue of financing for development.

Public and publicly guaranteed debt rose moderately, while bond financing fell dramatically by 40 per cent.

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.

While the international strategy for improving the debt situation had helped many countries regain access to external financing, the debt situation of the poorest countries remained critical.

(i) Mobilization of resources and financing of development debt reduction, internal resources, additional external resources and partnership

Before the end of the process, which is called the completion point , when the full debt relief is accorded, an eligible country receives substantial financing and debt relief.

(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.

International Conference on Financing for Development, Monterrey, Mexico, March 18 22, special focus on thematic issue International 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,

In addition to specific advice on the establishment of NDFs and other facilities, analysis and advice would be provided in a number of areas, including (i) domestic resource mobilization (ii) private sector financing (iii) charitable financing and (iv) debt management, including quot debt swaps quot where applicable.

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

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.

It would be preferable to prepare one main report on financing for development, particularly on the system for financing the debt, which would include all the conclusions, and provide a coherent overview.

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

30. Mr. Winnick (United States of America) said that partnership was key to both the financing of development and external debt.

36. He was pleased to confirm that the Russian Government had decided to participate in the financing of the debt initiative.

Still others argued that debt relief considered in the context of the internationally agreed development goals, including the Millennium Development Goals, had to be approached as part of the overall financing for development discussion, since debt relief was only one of a number of possible mechanisms to provide development financing.

Senior personnel assistant Senior administrative assistant (Requisition)

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

In such cases, we propose a large scale, 50 per cent conversion of debt for Millennium Development Goals (MDG) anti poverty financing programmes.

It was noted that to achieve long term debt sustainability, the terms and scale of new financing were much more important than forgiveness.

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.

A proposal has been made to set up an independent commission, appointed by agreement between creditors and debtors, to assess the debt sustainability of developing countries.17 An important factor behind the apparent failure to deal with the debt problems in an expeditious way is the insufficient level of financing of debt relief or debt rescue packages.

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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

(v) Technical material briefing notes on financing for development related issues for high level meetings of United Nations senior officials with governmental and non governmental representatives concerned (4) maintenance and updating of the Financing for Development home page on the Internet (8)