Indebted Poor Countries

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Heavily Indebted Poor Countries - Heavily Indebted Poor Countries (HIPC) are a group of the world's poorest countries which are the subject of an initiative seeking to bring their external debt to sustainable levels (see debt relief), subject to their governments meeting a range of economic management and performance targets.

Remittances from overseas - Remittances from overseas is money sent by immigrants from poor countries living in rich countries back to their native land. When such workers arive in wealthier countries, it can be expected that the overseas worker will support the extended family remaining in country.

International inequality - Economic differences between rich and poor countries are considerable. According to the United Nations Human Development Report 2004, the GDP per capita in countries with high, medium and low human development (a classification based on the UN Human Development Index) was 24,806, 4,269 and 1,184 PPP$, respectively (PPP$ = purchasing power parity measured in United States dollars).

Paris Club - The Paris Club is an informal group of financial officials from 19 of the world's richest countries, which provides financial services such as debt restructuring, debt relief, and debt cancellation to indebted countries and their creditors. Debtors are often recommended by the International Monetary Fund after alternative solutions have failed.

Suggested Web Sites

IMF - Heavily Indebted Poor Countries (HIPC) Debt Initiative - Country-by-country directory of links to Decision Point, Completion Point and Debt Sustainability Documents related to the Heavily Indebted Poor Countries Initiative (HIPC)

BBC News: Mozambique's Foreign Debt - Describe a plan to offer debt relief under the Heavily Indebted Poor Countries (HIPC) initiative that was promoted by the World Bank and IMF. Article explains several required conditions for this to take place, such ...

Debt Relief International - UK-based non-profit organisation established in order to assist Heavily Indebted Poor Countries (HIPCs) to manage their own debt strategy and analysis, without having to rely on international technical assistance.

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Web Links

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