That [the IMF and World Bank] have failed is not difficult to see; even after receiving debt relief, several poor nations are spending more on interest repayments than on primary education. 

...the current record is held by Sierra Leone which owes 6.7 times more on servicing its debt than it spends on primary school education.

As a result, only 24% of its children go to school.

Debt repayment consumes nearly 90 % of the Government's revenues .

(Oxfam 2003 "Debt relief and education spending: learning the hard way")