The Heavily Indebted Poor Countries Initiative
by the Paris Club of official creditors and multilateral institutions had written off (forgiven) a substantial share (in some cases nearly all) of the prior external debts.
She also called for measures to alleviate the debt burden on developing countries by taking advantage of the Heavily Indebted Poor Countries Initiative
(HIPC), debt restructuring, and sound debt management.
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."
His objective is for Chad to reach the completion point under the Heavily Indebted Poor Countries Initiative
(HIPC), which would allow the cancellation of all or part of the country's external debt.
In its 2012 report the IMF declared Sudan potentially eligible for relief under the Heavily Indebted Poor Countries Initiative
(HIPC) noting that the country has progressed well towards the target of satisfying the conditions of the initiative.
In 1998, it became the first nation to be declared eligible for relief under the Heavily Indebted Poor Countries Initiative
, set up by the World Bank and International Monetary Fund.
Congo is going ahead with a series of macroeconomic reforms as it is trying to get most of its USD11.9bn worth of external debt cancelled in July through the World Bank and International Monetary Fund's Heavily Indebted Poor Countries initiative
Speaking last night, the spokesman said: "We call on all remaining creditors to provide Haiti with the debt relief it can expect under the Heavily Indebted Poor Countries Initiative
The FY 2009 President's Budget requests funding of $141.0 million for the cost of debt restructuring programs, including bilateral Heavily Indebted Poor Countries initiative
(HIPC) debt reduction, the HIPC Trust Fund, and the Tropical Forest Conservation Act (TFCA).
''We, and other G-8 countries, have called for 100 percent cancellation of debt obligations owed to the World Bank, African Development Bank, and the International Monetary Fund by countries eligible for the Heavily Indebted Poor Countries Initiative
,'' which will result in about $40 billion in immediate debt relief, he said.
In addition, we are seeking $100 million in debt relief for the Heavily Indebted Poor Countries initiative
, an effort we are pursuing in concert with the G-7 countries, [Canada Germany France, Italy, Japan, the United Kingdom, and the United States] other key lending countries, and the international financial institutions.
However, the previous, partial effort at debt relief (the Heavily Indebted Poor Countries initiative
) required that countries follow the World Bank and IMF's questionable, one-size-fits-all program of privatization, indiscriminate lowering of tariffs, and focusing economies on one or two export commodities.