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ESAF-HIPC Link Attacked

15 December 1998

Mr Jagdeo, Guayanese Finance Minister, has attacked the IMF for its lack of commitment to debt reduction and using the HIPC Initiative as a means of forcing countries to comply with ESAF programmes. Speaking at the World Bank-IMF annual meetings he called for a framework which could really deliver debt reduction and which would:

  • be more flexible;
  • contain fewer conditions;
  • offer more interim financing; and
  • allow genuine debtor/creditor negotiations.