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The Debt Question Today
The Summit for a New Global Financing Pact in Paris this month certainly cannot be accused of lacking ambition. But a new global effort to increase developing countries' fiscal space can succeed only if it embraces the spirit of innovation and adapts the latest thinking from those who have long studied – and managed – the problem.
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LONDON – Like death and taxes, debt is an unavoidable feature of human life. Unlike those two certainties, however, unbearable debt burdens occasionally are relieved – or even eliminated.