By Sheila Herrling, Sarah Lucas and Sonal Shah
CGD Policy Blogs
Low-income countries with high levels of debt face a dilemma when considering new financing. Additional funding is needed to meet key development objectives, but too much new financing in the form of debt can exacerbate debt problems. Countries that borrow too much – even on concessional IDA terms – can quickly find themselves facing rapidly rising debt ratios that could threaten debt sustainability in the future.
Every developed country was once a developing country; every rich country was once poor. In other words, we can relate to the experience of today’s poor countries because we’ve been there, done that. The better we understand what Americans needed back then, the better we will understand what citizens of today’s poor countries need from us now.
On May 21, the SFRC marked up the MCA bill. "Marking up" is the process in which the members of the committee have the opportunity to add amendments to the bill being proposed by the chairman, and the committee votes whether or not to adopt the amendments.