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Debt relie\ue001 as i\ue001 people mattereD
A rights-based approach to debt sustainability
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n\ue004\ue005 is an independent think-and-do
tank that inspires and demonstrates real
economic well-being.

We aim to improve quality o\ue001 li\ue001e by
promoting innovative solutions that
challenge mainstream thinking on
economic, environmental and social issues.
We work in partnership and put people and
the planet \ue000rst.

n\ue004\ue005 (the new economics \ue001oundation) is a registered charity \ue001ounded in 1986 by the leaders o\ue001 The Other Economic Summit (TOES),

which \ue001orced issues such as international debt onto the agenda o\ue001 the G7/G* summit meetings. It has taken a lead in helping establish
new coalitions and organisations such as the Jubilee 2000 debt campaign; the Ethical Trading Initiative; the UK Social Investment
Forum; and new ways to measure social and economic well-being.

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ac\ue00b\ue009ny\ue008\ue00c \ue002nd \ue002\ue003\ue003\ue00b\ue004v\ue006\ue002\ue00d\ue006\ue009n\ue00c
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su\ue008\ue008\ue002\ue00by
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in\ue00d\ue00b\ue009duc\ue00d\ue006\ue009n
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b\ue002ckg\ue00b\ue009und
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Net fows
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Debt relie\ue001
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The HIPC initiative
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The G8 approach or MDRI
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Commentary on these approaches
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th\ue004 hu\ue008\ue002n \ue00b\ue006gh\ue00d\ue00c \ue002\ue00a\ue00a\ue00b\ue009\ue002ch
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Theoretical \ue001ramework
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Assumptions
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An ethical poverty line
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Methodology
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Review o\ue001 the methodology
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How our methodology develops
earlier approaches
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Data availability
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r\ue004\ue00cu\ue007\ue00d\ue00c
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C\ue009\ue008\ue008\ue004n\ue00d\ue002\ue00by \ue002nd c\ue009nc\ue007u\ue00c\ue006\ue009n\ue00c
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ann\ue004x\ue004\ue00c:
1. The concept o\ue001 illegitimate debt
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2. Detailed methodology
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3. Detailed inputs to calculations
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4. Detailed results
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5. Countries omitted
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6. United Nations Charter extract
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7. A very short history o\ue001 debt relie\ue001 prior to HIPC
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8. Paris Club history o\ue001 terms \ue001or rescheduling
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endn\ue009\ue00d\ue004\ue00c
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Debt sustainability has, until now,
been narrowly assessed according
to a country\u2019s ability to pay in terms
o\ue001 its export earnings \u2013 regardless
o\ue001 other demands on public \ue001unds.
This prevents governments in many
developing countries meeting the
basic needs o\ue001 their citizens.

A new approach to debt
sustainability that takes this into
account is urgently needed. Such
an approach would need to look at
all indebted countries regardless
o\ue001 income and calculate the level
o\ue001 debt they could carry without
compromising on human rights. It
would highlight the need \ue001or a major
cancellation o\ue001 unpayable debt
and \ue001or a signi\ue000cant increase in the
proportion o\ue001 aid which is in grant
\ue001orm. Without such an approach
attempts to reduce poverty and
promote sustainable development

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