Publication

This paper outlines some of the basic concepts related to Third World debt. The author provides a brief description of the various debt relief plans that have been implemented by the international community over the years in an effort to ease the burden of official sector debt on developing countries. The paper does not seek to cover all arguments for and against debt cancellation. Instead, it analyzes the effect of canceling payable and unpayable Third World debt on the UK Exchequer and the public sector net cash requirement.