|
Multilateral Debt Relief Initiative
Multilateral Debt Relief Initiative (MDRI) was approved on June, 2005, by the finance ministers of the G8 during the 31st G8 Summit, held at Gleneagles, Scotland. MDRI is different to HIPC, but operationally related. Countries in the termination point get full relief of their debt with IMF, International Development Association (IDA) and the African Development Bank (AfDB). MDRI was approved for encouraging debtor countries to continue their political reforms. For reasons of equal treatment of Low Income Countries (LIC) the relieved debts were counted when new ancillary remedies were guaranteed by IDA and AfDB. G8 members committed themselves to compensate IDA and AfDB refluxes with further remedies. These compensations will be shared among IDA and AfDB beneficiary countries according to the efforts they make (performance based allocation). How does MDRI work IMF, IDA and AfDB fully relieve the debt of countries which attain (after complying with specific conditions that are deta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gleneagles, Scotland
Glen Eagles (Scottish Gaelic: Gleann na h-Eaglais/Gleann Eagas) is a glen which connects with Glen Devon to form a pass through the Ochil Hills of Perth and Kinross in Scotland. (The spelling as two words, 'Glen Eagles', is as shown on UK Ordnance Survey maps.) The name's origin has nothing to do with eagles, and is a corruption of ''eaglais'' or '' ecclesia'', meaning church, and refers to the chapel and well of Saint Mungo, which was restored as a memorial to the Haldane family which owns the Gleneagles estate. Gleneagles House at the northern entrance to Gleneagles comprises a 1750 extension to an earlier 17th-century building that is approached by an avenue of lime trees planted to commemorate the Battle of Camperdown. Little remains of Gleneagles Castle, the early 16th-century tower house of the Haldanes. The Caledonian Railway Company used its name for the Gleneagles Hotel and golf course they built some distance from the glen at the edge of Auchterarder. The h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scotland
Scotland (, ) is a Countries of the United Kingdom, country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a Anglo-Scottish border, border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to the north and west, the North Sea to the northeast and east, and the Irish Sea to the south. It also contains more than 790 Islands of Scotland, islands, principally in the archipelagos of the Hebrides and the Northern Isles. Most of the population, including the capital Edinburgh, is concentrated in the Central Belt—the plain between the Scottish Highlands and the Southern Uplands—in the Scottish Lowlands. Scotland is divided into 32 Subdivisions of Scotland, administrative subdivisions or local authorities, known as council areas. Glasgow, Glasgow City is the largest council area in terms of population, with Highland (council area), Highland being the largest in terms of area. Limi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heavily Indebted Poor Countries
The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996, following extensive lobbying by NGOs and other bodies. It provides debt relief and low-interest loans to cancel or reduce external debt repayments to sustainable levels, meaning they can repay debts in a timely fashion in the future."Developing Countries: Status Of The Heavily Indebted Poor Countries Debt Relief Initiative: NSIAD-98-229." ''GAO Reports'' (1998): 1. ''MasterFILE Premier''. Web. 10 Sept. 2015. To be considered for the initiative, countries must face an unsustainable debt burden which cannot be managed with traditional means. Assistance is conditional on the national governments of these countries meeting a range of economic management and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Development Association
The International Development Association (IDA) (french: link=no, Association internationale de développement) is an international financial institution which offers concessional loans and grants to the world's poorest developing countries. The IDA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1960 to complement the existing International Bank for Reconstruction and Development by lending to developing countries which suffer from the lowest gross national income, from troubled creditworthiness, or from the lowest per capita income. Together, the International Development Association and International Bank for Reconstruction and Development are collectively generally known as the World Bank, as they follow the same executive leadership and operate with the same staff. The association shares the World Bank's mission of reducing poverty and aims to provide affordable development financing to countries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
African Development Bank
The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC). The AfDB was founded in 1964 by the Organisation of African Unity, which is the predecessor of the African Union. The AfDB comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund. Mission The AfDB's mission is to fight poverty and improve living conditions on the continent through promoting the investment of public and private capital in projects and programs that are likely to contribute to the economic and social development of the region. History Following the end of the colonial period in Africa, a growing desire for more unity within the continent led to the establishment of two draft charters, one for the establishment o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt Relief
Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and freeing of debt slaves. In World War I the United States Treasury made large loans to the allies that were postponed, reduced and finally paid off in 1953. In the late 20th century, it came to refer primarily to Third World debt, which started exploding with the Latin American debt crisis (Mexico 1983, etc.). In the early 21st century, it is of increased applicability to individuals in developed countries, due to credit bubbles and housing bubbles. International debt relief First World War reparations War debt payments by World War I Allies to the U.S. had been suspended in 1931—only Finland paid in full—and American public opinion demanded repayments resume as a condition of U.S. postwar aid. Germany h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odious Debt
In international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion. Despite antecedents dating back to the 1800s and support from diverse fields such as economics, philosophy, political science, history, and law, odious debt is not part of international law; in fact, " national or international tribunal has ever cited Odious Debt as grounds for invalidating a sovereign obligation."Mitu Gulati, Duke University School of Law; Ugo Panizza, The Graduate Institute Geneva and CEPR. The Hausmann-Gorky Effect. Working Paper No. HEIDWP02-2018. Graduate Institute of International and Development Studies, International Economics Department. Instead, internatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heavily Indebted Poor Countries
The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996, following extensive lobbying by NGOs and other bodies. It provides debt relief and low-interest loans to cancel or reduce external debt repayments to sustainable levels, meaning they can repay debts in a timely fashion in the future."Developing Countries: Status Of The Heavily Indebted Poor Countries Debt Relief Initiative: NSIAD-98-229." ''GAO Reports'' (1998): 1. ''MasterFILE Premier''. Web. 10 Sept. 2015. To be considered for the initiative, countries must face an unsustainable debt burden which cannot be managed with traditional means. Assistance is conditional on the national governments of these countries meeting a range of economic management and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millennium Development Goals
The Millennium Development Goals (MDGs) were eight international development goals for the year 2015 that had been established following the Millennium Summit of the United Nations in 2000, following the adoption of the United Nations Millennium Declaration. These were based on the OECD DAC International Development Goals agreed by Development Ministers in the "Shaping the 21st Century Strategy". The Sustainable Development Goals (SDGs) succeeded the MDGs in 2016. All 191 United Nations member states, and at least 22 international organizations, committed to help achieve the following Millennium Development Goals by 2015: # To eradicate extreme poverty and hunger # To achieve universal primary education # To promote gender equality and empower women # To reduce child mortality # To improve maternal health # To combat HIV/AIDS, malaria, and other diseases # To ensure environmental sustainability # To develop a global partnership for development Each goal had specific targ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Development Programs
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Howe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third World Debt Cancellation Activism
Third or 3rd may refer to: Numbers * 3rd, the ordinal form of the cardinal number 3 * , a fraction of one third * 1⁄60 of a ''second'', or 1⁄3600 of a ''minute'' Places * 3rd Street (other) * Third Avenue (other) * Highway 3 Music Music theory *Interval number of three in a musical interval **major third, a third spanning four semitones **minor third, a third encompassing three half steps, or semitones **neutral third, wider than a minor third but narrower than a major third ** augmented third, an interval of five semitones **diminished third, produced by narrowing a minor third by a chromatic semitone *Third (chord), chord member a third above the root *Degree (music), three away from tonic ** mediant, third degree of the diatonic scale **submediant, sixth degree of the diatonic scale – three steps below the tonic **chromatic mediant, chromatic relationship by thirds * Ladder of thirds, similar to the circle of fifths Albums *''Third/Sister Lovers'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
_per_capita_in_2020.png "Click for more on -> Economic Development Programs")