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News ::
U.S. General Accounting Office says IMF Debt relief program is a joke
07 Apr 2002
A recent report by the U.S. General Accounting Office found
that the IMF and World Bank debt reduction program for heavily
indebted poor countries, known as HIPC, is likely to leave
these poor countries in just as much debt as when they started
the program.
Most of the countries that are now participating in the IMF
and World Bank debt reduction program spend more on debt
service than they spend on health care for their people and the
majority of the people in these countries subsist on less than
a dollar a day.
Developing Countries: Challenges Confronting Debt Relief and IMF Lending to Poor Countries. GAO-01-745T May 15, 2001

check it out - 13 page .pdf file
See also:
http://www.gao.gov/
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