An iniiaive of the wb and imf. An efort to eliminate unsustainable debt in the world"s poorest counies. Prudent, imf supervised economic program iscal restraint, market liberalizaion. Poverty reducion program with civil society paricipaion (poverty reducion strategy. ^part of debt writen of and those funds will be put toward poverty reducion programs. 35 countries are receiving debt relief argument: new form of market condiionality. If u liberalize market, privaize public companies=healthy economic growth rates, and poverty reducion. Inappropriateness of criteria for eligibility eg, export earnings. Only modest increases in social spending (doesn"t get to poorest people) First phase of prsp did not involve real paricipaion, over ime there was increased civil society paricipaion. Paricipaion may not be substanial never allowed to criicize economic policies that the imf and wb stands for, allowed to have say over what kinds of prs can be implemented.