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ILLEGITIMATE DEBT Boothroyd Room, Portcullis House 23rd July, 2007
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Some Recent ‘Dictator Debts’ ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Definition of ‘Illegitimate Debts’ ,[object Object],[object Object]
Which Future Loans Legitimate? ,[object Object],[object Object],[object Object]
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illigitimate debt

Editor's Notes

  1. Snapshot now - figures ** Low-income, (59); all ‘developing’ (153) ** . Africa - low and middle - accounts for 295 (2002) 1970 to 2002: borrowed 540, paid 550, left with 295 Of this, 210 (70%) is sub-Saharan. These stocks - total value. Impact on budgets -> service ** . Every day, $100 million (exclude ‘ta’, $2 for every $1 aid). $537m developing. Slightly smaller percentage than stock (18 vs 22) - concessional. ** . Africa - 52. Huge sums. Very poor countries: Malawi, HIV. Zambia, education. ** . BUT - must remember not just immediate impact on spending. Severe, long-lasting impact of conditions. Must not underestimate the element of control created by relationship of indebtedness.