A new report shows that debt relief in Nicaragua is only partly going to poverty reduction. The expected relief from debt servicing for 2003 is nearly $214 million, however the national budget indicates that only $98.4 million was set aside for poverty reduction expenditure. The report says this is because the government is prioritising – with IMF support – internal debt payments to the private sector. Nicaragua is on the IMF’s Board agenda for June.
Stephen Kidd critiques Bretton Woods Institutions' approach to targeted social protection systems, arguing the poor lose out the most.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).