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Contributions on Comparative Public Law and International Law

Veröffentlichungen des Max-Planck-Instituts für ausländisches öffentliches Recht und Völkerrecht


Band 202:

Leonie F. Guder

The Administration of Debt Relief by the International Financial Institutions

A Legal Reconstruction of the HIPC Initiative


Summary (PDF, 299.5 KB (Summary)

Contents:
Introduction.
Multilateral Debt Relief for Heavily Indebted Poor Countries: The Heavily Indebted Poor Countries Initiative (HIPC). - Debt Relief under the G-8: The Multilateral Debt Relief Initiative (MDRI). - Case Study: The Contemporary History of Debt Relief in Ghana.
Doctrinal Reconstruction of HIPC in a Public International Law Perspective: The Legal Quality of the HIPC Program under the Law of IMF and IDA. - Legal Relationship Between the HIPC Debtor and the International Financial Institutions. - Legal Relationship Between the HIPC Debtor and its Bi- and Multilateral Creditors. - Legal Relationship between the HIPC Debtor and non-Paris Club and Commercial Creditors. - Conclusion.
Multilateral Debt Relief Under HIPC - Global Governance Perspectives: Global Governance. - A Global Administrative Law Perspective on HIPC. - Findings: HIPC as an Instrument of Global Governance.
Issues of Legitimacy: Legitimacy: An Iridescent Concept. - Charter Based Legitimacy of the HIPC Program. - Issues of Sovereign Equality and Self-Determination. - Procedural Accountability. - Relief Achievements and Effectiveness of the HIPC Initiative. - Findings and Recommendations.
Conclusions.



This study addresses the mechanisms of debt relief for Heavily Indebted Poor Countries (HIPC) jointly coordinated by the International Monetary Fund and the World Bank. It describes the content of the HIPC program and classifies it as a legally non-binding instrument under public international law. A case study on Ghana illustrates the HIPC relief process, sheds light on its implementation practice and provides insight into the collaboration between HIPC creditors and debtors. The study explains the process of creditor coordination and the ways in which IMF and World Bank succeeded to establish a sovereign state insolvency mechanism for their highly indebted member states.

2009. XVIII, 355 p.
ISBN 978-3-540-88608-2
Springer-Verlag, Berlin/Heidelberg