Heavily Indebted Poor Countries


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Heavily Indebted Poor Countries

The 40 least developed countries with a large amount of foreign debt. The IMF and the World Bank help heavily indebted poor countries restructure their debt by offering low interest loans and some forms of debt relief. The two organizations have offered this service since 1996.
References in periodicals archive ?
9 billion of debts for 31 heavily indebted poor countries or least developed countries in Africa.
administration which he said continues to create obstacles to bar the Sudan from benefiting of the Heavily Indebted Poor Countries (HIPC) Initiative for political reasons.
Russia said poverty eradication was at the core of its policies in the area of international development, and announced that "under the Heavily Indebted Poor Countries Initiative (HIPC), our country has written off over 20 billion US dollars of the principal debt owed by African countries alone.
Furthermore, arrears clearance mechanisms, such as the Heavily Indebted Poor Countries (HIPC) debt-relief programme have helped to substantially reduce the level of outstanding arrears.
The resolution stressed that "the UNHRC is convinced that performing the debt relief under the set initiative will not be enough if the heavily indebted poor countries were wanted to be able to bear the burden of debt and achieve the goals of long-term growth as well as poverty reduction.
World Bank Country Manager Alexander Kremer expressed regret over refusal of Kyrgyzstan to join the Heavily Indebted Poor Countries Initiative (HIPC).
The Kingdom has waived more than $6 billion in debt owed by LDCs and has contributed its full quota to Heavily Indebted Poor Countries (HEPC) initiative of the International Monetary Fund," he said.
Finally, having qualified in March 2009 to be treated as one of the Heavily Indebted Poor Countries, Ivory Coast is looking to the presidential poll to speed up its progress towards debt rescheduling or even relief of almost all the debt.
2 billion of debt relief for Haiti delivered by the IMF and other financial organizations in June 2009 under the Heavily Indebted Poor Countries and Multilateral Debt Relief Initiatives.
The Congo began debt relief talks in 2001 with the World Bank and IMF, who manage the Heavily Indebted Poor Countries (HIPC) programme.
VATICAN CITY The Vatican supports international efforts to prevent speculative investors from exploiting heavily indebted poor countries, said a top Vatican official.
9bn worth of external debt cancelled in July through the World Bank and International Monetary Fund's Heavily Indebted Poor Countries initiative.