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Paper presented by WiSoTren, University of Bayreuth "Alternative Approach for Calculating and Achieving a Sustainable Debt Level of HIPC-Countries" The BOTOS-Approach proposed in this paper is a direct response to the new operational framework for debt sustainability recently published by the World Bank and IMF. This paper entails alternatives in two areas: First, it proposes an alternative mechanism for calculating a sustainable debt level for countries participating in the Heavily Indebted Poor Country (HIPC) Initiative. However, it can also be applied to all indebted countries. The proposed approach significantly modifies the mechanism recently published by the World Bank and the IMF by defining debt distress situations with the help of the Millennium Development Goals (MDGs). Secondly, a new process for accomplishing a sustainable debt level will be outlined. This includes setting up a Board of Trustees on Sustainability (BOTOS). The BOTOS will negotiate a Business Plan, which provides a framework for investments in growth and development by both creditor and debtor replacing one-sided development assistance. Constructive criticism and comments are welcome!
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