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Publications (5)
Working Paper
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In the last two decades, there has been a global sea change in the theory and practice of central banking. The currently dominant ‘best practice’ approach to central banking consists of the following: (1) central bank independence (2) a focus on inflation fighting (including adopting formal...
Working Paper
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Late 1990, Egypt witnessed major and radical changes in all areas of its national life—political, legal, economic and social—as a reflection of implementing an economic reform programme in order to achieve progress in its economic indicators. This paper aims to examine the extent to which Egypt has...
Working Paper
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– Context and Outlook for Debt Sustainability and Resource Flows
This paper analyses debt relief efforts by creditors to alleviate the debt burden of low-income countries. The Heavily Indebted Poor Countries (HIPC) Initiative builds on traditional debt relief, and for the first time involves relief on multilateral debt. It seeks to reduce debt to sustainable...
Working Paper
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– Arbitration as the Alternative to Present, Unsuccessful Debt Strategies
After analysing present, unsuccessful strategies of granting too little too late, a fair, transparent arbitration process (FTAP) on debts modelled after the principles of US Chapter 9 insolvency for debtors with governmental powers (municipalities) is needed. It would respect debtors’ sovereignty...
Working Paper
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This paper examines the question if the Heavily Indebted Poor Country (HIPC) Initiative provides a good basis for the HIPCs to exit from repeated debt rescheduling. Building on other reviews of the HIPC Initiative, the paper begins with a short summary of some key problems of the HIPC Initiative. It...
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