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The Least Developed Countries Report 2000

Aid, Private Capital Flows and External Debt - The Challenge of Financing Development in the LDCs

image of The Least Developed Countries Report 2000

What the world's poorest countries need most is not simply debt relief, but a 'New Deal' in international development cooperation, contends UNCTAD in its Least Developed Countries 2000 Report. Almost two thirds of the 48 least developed countries (LDCs) have an external debt burden, which is unsustainable according to international criteria. The report also states that past efforts to substantially decrease their debt service payments have failed, and recent attempts to finally resolve the debt problem through the Heavily Indebt Poor Countries (HIPC) Initiative are not very promising. The LDCs also looks at economic growth and social trends in the LDCs in the 1990s, financing development, and ways in which new approaches to partnerships can increase the effectiveness of aid.

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Acknowledgements

The Least Developed Countries 2000 Report was prepared by a team comprising Charles Gore (team leader), Massoud Karshenas (principal consultant), Marquise David, Utumporn Reungsuwan and Rajesh Venugopal. Specific inputs were received from Amelia Santos-Paulino, Birgitta Starck and Yuefen Li. Internet searches were undertaken by Alke Gijrath, and Dexter Roberts assisted with some of the data preparation. The work was carried out under the overall supervision of Anna Kajumulo Tibaijuka, former Special Coordinator for Least Developed, Land-locked and Island Developing Countries.

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