International Debt Relief: a Moral and Economic Challenge

During the Great Jubilee of the Year 2000, the pope challenged the international community to consider canceling the debts of the world's poorest nations....this paper brings moral principles and rigorous economic analysis to bear on the difficulties posed by external debt relief proposals.  While acknowledging that debt relief is a noble and worthy end that reflects the mercy of God...this essay suggests that effective debt relief will respect sound economic principles that are oriented to the genuine development of poor nations. - Michel Therrien, series editor