We decided to do something about it, but we didn't begin with a welfare program or a poverty reduction program.

One such step is the debt conversion program proposed here.

With regard to the evolution of government debt , deficit debt adjustments have played a non negligible role in reducing debt ratios in the euro area , as was already the case in 1997 .

Projected developments underline the benefits of the reduction in the deficit position achieved in 1997 , and forecast to decline further in 1998 , for reducing the debt ratio .

They would have to tackle the banking and the sovereign debt problems simultaneously, without neglecting to reduce divergences in competitiveness.

One consequence of the period of poverty alleviation lending was the rapid rise of third world debt.

Overall , progress in reducing fiscal deficit and debt ratios has generally accelerated .

Germany would do well to remember that it has benefited from debt write downs three times in its history.

for Huta Labedy, implementing the cost savings programme and reducing reliance on the mining industry

Such simplification can be made manually, using a divide and conquer approach.

Deficit debt adjustments reflecting privatisation receipts and valuation gains on foreign currency denominated government debt were the major factors behind the reduction in the debt ratio from 2000 until 2004 ( see Table 6 ) .

According to the Austrian medium term fiscal policy strategy , as presented in the Convergence Programme for 1997 2000 updated in October 1997 , the general government financial deficit and debt ratios are expected to decline in 1998 .

According to the Swedish medium term fiscal policy strategy , as presented in the latest review of the Convergence Programme for 1995 2000 dated September 1997 , the general government financial position is expected to be in surplus in 1998 and the debt ratio is planned to decrease further .

According to the Irish medium term fiscal policy strategy , as stated in the Convergence Programme for 1997 99 updated in December 1997 , a somewhat declining budget surplus and a declining debt ratio are expected in 1998 .

In 2015, however, with the primary surplus achieved, Greece s creditors refused even to discuss debt relief.

As is shown in Chart 5 , the alternative scenario , according to which the overall balance for the year 2000 would be maintained , indicates a slower path of debt reduction .

The eligibility of debt instruments issued under an issuance programme is assessed on the basis of the rating of the programme .

In public safety there has been a reduction in the rates of violence with the implementation of the program Pact for Life Pacto pela Vida The number of homicides in the state has dropped 39.10 since the beginning of the program.

The reduction of debt ratios will have to come from a combination of fiscal consolidation and structural reforms to support potential growth .

Reducing public debt would contribute to improving fiscal sustainability and thus make public finances less vulnerable to the impact of demographic changes .

Simultaneous debt reduction and structural reforms, we now know, will overextend any democratically elected government because they overtax its voters.

In particular, the EFA could establish a Debt Reduction Fund a modified form of the European Debt Redemption Pact that was proposed by Merkel s Council of Economic Advisers and endorsed by Germany s Social Democrats and Greens.

With practically half of Italy s debt financed by European Treasury Bills producing an effect similar to a reduction in the average maturity of its debt a successor government would be all the more responsive to any punishment imposed by the EFA.

Compared with the previous year , the deficit ratio was reduced by 1.5 percentage points and the debt ratio by 1 percentage point .

Projected developments underline the benefits of the surplus position achieved in 1997 , and forecast to increase in 1998 , for rapidly reducing the debt ratio .

Governments preoccupied with reducing debt are unlikely to undertake the investments needed for long term structural change.

Of course, once an apprenticeship program is operational, the larger benefits implied by a more productive economy and lower unemployment will become apparent.

Additional investments in the hot tube mill as well as the implementation of the staff reduction programme must take place

As a further consequence , the reduction in the short term fluctuation of the allotment amount has contributed to a stabilisation of credit institutions bidding in the MROs .

This strategy consists of measures geared towards reducing deficits and debt , increasing employment rates and reforming social protection systems .

This is particularly important with a view to reducing the still high government debt ratios and preparing for the fiscal challenges arising from population ageing .

The budget for 1998 is in line with the programme . It foresees a reduction in the expenditure ratio and an increase in the revenue ratio .

Other claims Nominal value , translation at the foreign exchange market rate 2.2 .

Benefiting from past higher oil prices , the country 's fiscal and external accounts improved , which also led to a sizeable reduction in its external debt exposure .

While Belgium is estimated to have recorded a balanced budget again in 2005 , partly owing to temporary measures , the reduction in its debt ratio slowed considerably owing to sizeable deficit debt adjustments .

Appropriately ambitious fiscal targets as part of a comprehensive structural reform programme would bring deficit and debt ratios down more rapidly .

One scholar, Farzana Afridi, reported in the Journal of Development Economics that the program improved nutritional intakes by reducing the daily protein deficiency of a primary school student by 100 , the calorie deficiency by almost 30 , and the daily iron deficiency by nearly 10 .

Stressing the benefits of a surplus position in public finances and of a substantial further reduction in the debt ratio is indeed appropriate in the case of Denmark .

The reduction of government debt owing to fiscal consolidation under Monetary Union might boost the issuance of private bonds and , possibly , the securities activities of banks .

On balance , the expenditure ratio in 1997 was considerably lower than at the beginning of the 1990s , particularly on account of the sharp reduction in interest payments as a consequence of lower interest rates and the reduction in the debt ratio .

The outcome for the debt ratio in 1997 reflects a better performance than was envisaged in the original programme for 1998 .

More generally, the reduction of a body of propositions to a particular collection of axioms underlies the mathematician's research program.

Any lasting solution requires Europeans to acknowledge that they now face a common problem that can be resolved only by greater cohesion and financial solidarity. The ECB must become a genuine central bank for Europe.

The envisaged progress in bringing down government deficit and debt ratios varies from one country to another , as do the fiscal positions targeted towards the end of the planning horizon .

The continued reduction in the relative importance of the public sector in the euro area debt securities markets reflects the reduced borrowing requirements of the public sector in 2000 compared with previous years .