To talk of achieving accurate measurements of aid program inputs and outputs and striving to enhance human development might seem mixing the profane and sacred, but the two arguably must work together to bring about change. There is also the seemingly vast distance between the individuals struggling daily with the challenges dealt with in this blog for survival and the global programmatic policies of world-spanning organizations such as the United Nations, the World Bank or the International Monetary Fund. This expanse is mediated by the interventions of organizations such as ONE, ActionAid, Global Call To Action Against Poverty or Oxfam UK, among many others, which though large still must struggle against the entrenched system of government and financial powers.
One path that developing countries can take is the HIPC Initiative or Heavily Indebted Poor Countries Initiative, the major debt relief system launched in the late 1990s by the International Monetary Fund.
The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and reform programs. To date, debt reduction packages have been approved for 33 countries, 27 of them in Africa, providing US$49 billion (net present value terms as of the decision point) in debt-service relief over time. Eight additional countries are potentially eligible for HIPC Initiative assistance and may wish to avail themselves of this debt relief.
To be considered for HIPC Initiative assistance, a country must:
(1) Be IDA-only and PRGF-eligible;
(2) Face an unsustainable debt burden, beyond traditionally available debt-relief mechanisms;
(3) Establish a track record of reform and sound policies through IMF- and IDA-supported programs; and
(4) Have developed a Poverty Reduction Strategy Paper (PRSP) through a broad-based participatory process.
Poverty Reduction Strategy Papers (PRSPs) are prepared by governments in low-income countries through a participatory process involving domestic stakeholders and external development partners, including the IMF and the World Bank. A PRSP describes the macroeconomic, structural and social policies and programs that a country will pursue over several years to promote broad-based growth and reduce poverty, as well as external financing needs and the associated sources of financing.
diigo tags: prsp, mdg, mdgs, millennium development goals,
The approach of the IMF is not without criticism from all points along the political spectrum, but the need for measurement is widely recognized. While the viability of the measurement of human development can be debated , both in application and precision, it does create a metric by which to test relative effectiveness. It can serve to provide both short term program objectives and longer term policy goals. It can help to create a strategic paradigm through which to organize continuing efforts which will be explored further in the next post.
Related posts: Human Development - The Measurement of Human Endeavors
