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 ?
The Liberia Debt Reduction Grant was designed to support Liberia s efforts to develop and implement an effective and low cost commercial debt reduction strategy in the context of the Heavily Indebted Poor Country (HIPC) Initiative.
These institutions have also acted as a brake on bilateral remission: the British Government's promise, for instance, is limited to those countries which have been through the Bank's Heavily Indebted Poor Country (HIPC) initiative.
Vietnam is regarded by the World Bank and the IMF as a Heavily Indebted Poor Country that should qualify for debt relief.