Multilateral Debt Relief Initiative (MDRI)

• 2005 G-8 decision to forgive all HIPC debt
• worth $64 billion (NPV) as of 2005

Politics of Conditionality

• does it interfere with democratic politics?
• does it prevent 'waste'?

Structural Adjustment

• changes in economic institutions
• Washington Consensus
• Now "Poverty Reduction and Growth Facility (PRGF)"
• Has SA worked?

2005 IMF Report