New ways of achieving debt sustainability beyond the enhanced HIPC Initiative

In 1996 the Heavily Indebted Poor Countries (HIPC) Initiative was launched by the Bretton Woods institutions to reduce the external debt burden of low-income countries (LICs) to sustainable levels in a reasonably short period of time because debt constitutes an obstacle to sustainable economic growth and poverty reduction. In some HIPCs, however, debt sustainability has been in danger despite debt relief under the HIPC Initiative. Debt relief is a necessary but not a sufficient condition for development. It can do no more than play a catalytic role. The question, then, is how to achieve debt sustainability beyond the HIPC Initiative.     

中国转移支付制度的法治化进程从"自由裁量"到"阳光财政"

编者按实行分税制财政管理体制改革后,为了解决我国地区与地区间的收支平衡问题,确保贫富不均的人们获得均等水平的教育、卫生防疫以及环保等公共服务,中央开始实行财政转移支付制度.