Some participants believed that the concept of sustainable debt should be the debt level at which a country could implement strategic programmes for development.

Level annual debt service

Their debt would suddenly become sustainable.

Defining a sustainable level of debt was difficult in view of other available means of action, over and above debt forgiveness, such as trade, aid and private flows.

Solomon Islands' debt level remains crippling.

Debt indicators at the country level

First, as mentioned above, there is no straight or single answer to the question of what a country's sustainable level of debt should be.

Options for lower debt burdens on Governments of heavily indebted developing countries include debt cancellation and debt swaps for sustainable development.

Towards a human rights based approach to sustainable debt management

Current debt burdens were a major obstacle to sustainable development.

69. Turning to the recurring issue of external debt, he said that although the least developed countries had received significant debt relief, much more needed to be done before their debt level would fall to the point where they could initiate sustainable development.

For some, reducing debt burdens to sustainable levels looks increasingly difficult within existing official debt reduction schemes.

That is why my country fully supports the recommendation of the Secretary General to assess a country's sustainable level of debt at a level that permits the country to achieve the Millennium Development Goals without suffering a deterioration of its debt ratio from now to 2015.

Fifth, debt burdens that cannot be eased by growth, savings, or inflation must be rendered sustainable through orderly debt restructuring, debt reduction, and conversion of debt into equity.

Debt indicators at the aggregate level . 21 27 8

Debt indicators at the country level . 28 45 12

But even this reduced level is not sustainable.

I. HIGH LEVEL ADVISORY BOARD ON SUSTAINABLE DEVELOPMENT

Debt sustainability should be redefined as the level of debt consistent with achieving the Millennium Development Goals without creating new debt obligations.

I. High level Advisory Board on Sustainable Development . 113

A debt sustainability analysis to determine the level of sustainable external debt of a country is probably the most essential element in determining how much debt relief restructuring is needed or how much a country can possibly borrow to meet its development needs without falling into repayment difficulties.

We cannot foster sustainable growth or preempt a sovereign debt crisis in Europe (or anywhere else) by piling up more debt.

Concerned that many developing countries continue to struggle for a durable solution to their serious debt problems, where continuing debt and debt servicing obligations adversely affect their sustainable development,

In June 2004, the Evian approach was applied to examine the debt of Gabon, and the Debt Sustainability Analysis concluded that Gabon's debt is sustainable in the short term.

In spite of the increase in total debt, debt burden indicators, which largely reflect debt servicing capacity, have improved at the aggregate level (see figure 1).

We will not know for some time whether the US public debt is sustainable.

They include recycling debt into projects to protect the environment and ensure sustainable development.

Blanchard is a pioneer in the economics of public debt. He knows that Greece s debt has not been sustainable at any point during the last five years, and that it is not sustainable now.

That being said, a high level of external debt is one of the barriers impeding efforts towards sustainable development in our Republic, where 94 per cent of the territory is mountainous.

This section addresses the imperatives of bringing human rights considerations to (a) determining the sustainable level of debt in a country and (b) addressing process related issues in managing sovereign debts.

This does not mean that we should ignore the level of debt.

A High level Advisory Board on Sustainable Development was also established.

(i) Promote the concept of sustainable development at the national level

Defining and coordinating national level and workplace level actions to implement sustainable development has been a top priority for trade unions since the World Summit on Sustainable Development.

Uganda is estimated to receive 1.95 billion in nominal debt service relief.12 However, the net present value of its debt to exports ratio was estimated to reach 258 per cent by the end of 2003, a level significantly above the HIPC sustainable threshold.14

That means increased development assistance, debt relief, tackling disease, education, sustainable environment and free trade.

That measure would avoid frequent rescheduling and would reduce the debt stock to sustainable levels.

The level of debt service continues to constrain import capacity and hamper growth.

Good governance at the international level is fundamental for achieving sustainable development.

Kazakhstan is reaching a new level in the area of sustainable development.

At various high level forums, we have come to understood the concepts of sustainable economic development and sustainable human development.

But that is not necessarily the same as returning the countries to sustainable debt servicing situations.

At the level of developing countries, foreign debt has multiplied fifteenfold in two decades.

Integrating environmental activities at the operational level in the broader sustainable development framework

(a) Group training workshop on sustainable land resource management at the local level