Series: Economic Issues
Author(s): Toan Nguyen , Benedict Clements , and Rina Bhattacharya
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 16 April 2007
Keywords: debt service, external debt, debt relief, foreign debt, budget deficits, public debt, debt overhang, stock of debt, debt-service, debt burdens
The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1999 by the IMF and the World Bank, was the first coordinated effort by the international financial community to reduce the foreign debt of the wor...