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Heavily Indebted Poor Countries
(redirected from Hipcs)

   Also found in: Acronyms, Wikipedia 0.01 sec.
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.


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Of these 46 creditors, 25 received court judgments against HIPCs amounting to about $1 billion on original claims of $427 million.
He includes consideration of how such debt reduction efforts have increased the influx of new capital and investment as he reviews the origins of such debts and the means by which HIPCs received relief, the efficiency and effectiveness of a range of types of debt relief, the impact of debt relief since 2000 and prospects of further debt relief in the future.
But the G8's idea of 'responsibility' is to ensure only their decisions count and they had not cancelled debts, for HIPCs to start borrowing again.
 
 
 
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