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HIGHLY INDEBTED POOR COUNTRY (HIPC) INITIATIVE

Statistics Directorate    
Definition:
Framework for action to resolve the external debt problems of heavily indebted poor countries (HIPCs) that was developed jointly by the IMF and the World Bank and was adopted in September 1996. The Initiative envisaged comprehensive action by the international financial community, including multilateral institutions, to reduce to sustainable levels the external debt burden on HIPCs, provided they build a track record of strong policy performance.

Context:
Following a comprehensive review of the HIPC Initiative, a number of modifications to the Initiative were approved in September 1999 to provide faster, deeper, and broader debt relief and strengthen the links between debt relief, poverty reduction, and social policies.

Source Publication:
IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix III, Glossary, IMF, Washington DC.

Hyperlink:
http://www.imf.org/external/pubs/ft/eds/Eng/Guide/index.htm

Statistical Theme: Financial statistics

Created on Thursday, August 28, 2003