International Debt Articles Jeopardy Template

Causes of the Debt Crisis	HIPC Criticism/Response to Criticism	History	HIPC Initiative	International Debt Assistance
100 Debt was transferred over to them Why are some of these previously colonial nations starting off in debt?	100 • the definition of debt-to-export and debt-to-government arbitrary and too restrictive • 6 years was too long • the IMF and World Bank did not cancel any debt until the end of the 6 years so it didn’t really do anything • ESAF (enhanced structural adjust Name two criticisms of HIPC.	100 Reagan Which US president froze assistance to Sudan in 1985?	100 Heavily Indebted Poor Countries What does HIPC stand for?	100 International Monetary Fund (IMF) and World Bank What are the two organizations that fund debt relief?
200 Odious Debt What is unfair debt resulting from illegitimate loans?	200 4 Countries By 1999 how many countries had actually received debt relief under HIPC?	200 Oil, interest rates, world wide recession, colonial ties Name 2 out of the four external factors that affect Africa’s debt crisis.	200 33 How many of the 39 HIPC countries are in Sub-Saharah Africa?	200 Creditor countries Where does the other half of HIPC’s funding come from?
300 Poor countries have soft currencies (meaning they have values which can fluctuate) Why is it a problem for third world loans to be paid back in ‘hard currencies’ (do not change very much in value)?	300 6 years How many years long was the HIPC program?	300 Drought, agriculture, border and civil wars, arms imports Name 2 out of the four internal factors that affect Africa's debt crisis.	300 • Ratio of debt-to-exports over 200-250% • Ratio of debt-to-revenues over 280% What were the original requirements to qualify for HIPC?	300 Sub-Saharan Africa What area of Africa did the world bank create the special assistance facility for in 1984?
400 The rich/elite Who typically embezzles money in developing countries?	400 - 6 year structure abandoned, replaced by floating completion - allows for interim debt relief to see partial relief before completion - PRGF (poverty reduction and growth facility) heavily modified ESAF (enhanced structurally adjustment facility) Name one of the new requirements for the HIPC program.	400 Oil importing countries What group of African countries were the hardest hit by the crisis?	400 Afghanistan Benin Bolivia Burkina Faso Burundi Cameroon Central African Republic Chad* Republic of the Congo Democratic Republic of the Congo Comoros* Ivory Coast* Ethiopia Gambia Ghana Guinea* Guinea-Bissau Guyana Haiti Honduras Liber Name 3 of the HIPC defined debt relief countries.	400 Gold Sales What is currently funding the IMF's share of costs?
500 The wealthy and powerful nations Who is the backbone to globalization?	500 If something happens that makes the country suffer that isn’t their fault, they’re eligible to have debt forgiveness about the decision level previously decided on What is topping up?	500 Oil exporting countries What group of African countries were not hit hard by the crisis?	500 71 billion in 2007 dollars What is the estimated cost to provide debt relief to the 40 currently eligible countries?	500 Forming a cartel What did certain African countries come up with to escape the debt burden?

International Debt (Articles)

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