The Debt of the Poorest Nations
A Gold Mine for Development Aid

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No one with a heart or with a brain can dispute that total cancellation of the debt of the world’s poorest nations is a given in our collective progress toward global economic balance. All that debt forgiveness really needs is an eraser. Humanity aside, the money is long gone, the debt is uncollectible and rich lenders and international financial institutions (IFIs) must move on from denial to a new life as donors.

Adam Lerrick is a visiting scholar at AEI.

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About the Author

 

Adam
Lerrick
  • Adam Lerrick is the Friends of Allan H. Meltzer Professor of Economics at the Tepper School of Business at Carnegie Mellon University. He served as a senior adviser to the chairman of the International Financial Institution Advisory Commission (known as the "Meltzer Commission"), where he analyzed the workings of the World Bank and reassessed its role in the global economy. Previously, he was an investment banker with Salomon Brothers and Credit Suisse First Boston, and he originated and led the negotiation team of the Argentine Bond Restructuring Agency in the $100 billion Argentine debt restructuring.
  • Phone: 434-286-2372
    Email: alerrick@aei.org

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