01959cas a2200253 a 4500 AALejournalIMF002546 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451859539 1018-5941 BD-DhAAL BD-DhAAL Fedelino, Annalisa. Fiscal Sustainability in African HIPC Countries : A Policy Dilemma? / Annalisa Fedelino, Alina Kudina. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper looks at the link between fiscal policy and debt sustainability in a number of African countries participating in the Heavily Indebted Poor Countries (HIPC) Initiative. The paper finds that, on the basis of current fiscal policies, debt levels will remain unsustainable even after these countries graduate from the HIPC Initiative. This finding has important policy implications. By the very requirements of the HIPC Initiative, these countries are expected to increase significantly their poverty-reducing expenditure-possibly resulting in weaker fiscal primary balances and worsening debt sustainability outlook. As offsetting fiscal tightening may not be viable, ensuring debt sustainability may thus require increased availability of (nondebt-creating) grants. Otherwise, debt sustainability in HIPC countries may prove elusive in the long term. Mode of access: Internet Kudina, Alina. IMF Working Papers; Working Paper ; No. 2003/187 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/187/001.2003.issue-187-en.xml IMF e-Library