Initiative for the heavily indebted poor countries (HIPCs)

• International Campaign on Illegitimate Debt

  Resolution of solidarity and support for the people of Haiti

  19 September 2008

  Between August 15 and September 7, 2008, the Caribbean was severely hit by four successive hurricanes (Fay, Gustav, Hanna, and Ike) that devastated several regions with disastrous consequences in particular for the peoples of Cuba, the Dominican Republic, and Haiti. We express our fraternal solidarity with these peoples, and we call on the entire world community to respond with concrete support in accordance with the level of need. In Haiti, even before the balance is completed, it is (...)

• The World Bank suddenly discovers 400 more million poverty-ridden people

  
  by Damien Millet, Eric Toussaint

  12 September 2008

  The World Bank recently acknowledged significant mistakes in its figures concerning poverty in the world. Indeed, while “the WB’s estimates of poverty are improved thanks to more reliable data on the cost of living”, the outcome is a head-on questioning of statistics produced by this institution, which has been facing a serious legitimacy crisis for several years: all at once the WB has just found out that 400 million more people live in poverty than earlier thought. In other words more than (...)

• Kyrgyzstan

  Kyrgyz Protesters Target World Bank Debt Scheme

  30 January 2007

  YOUTH GROUPS ARE STRONGLY AGAINST HIPC Representatives of some youth and human rights groups protested in front of the parliament building in Bishkek, capital city, on 23 January 2007 against joining to the HIPC initiative. They promised they would offer their own plan of debt relief without HIPC. Minister of Economy and Finances Akylbek Japarov angrily responded on 26 January during a round table discussion that some NGOs were "financed by foreign funds to do their campaign", this caused (...)

• Zambia: Debt Reduction Doesn’t Guarantee Debt Sustainability - World Bank

  by Mwila Nkonge

  5 September 2006

  DEBT reduction is insufficient for debt sustainability, the World Bank has noted. Article by Mwila Nkonge published in The Post (Lusaka).

• International press

  What the World Bank and Inter-American Development Bank Owe Haiti

  by Dan Beeton

  5 August 2006

  For several years Haiti, the poorest country in the Western Hemisphere, has been left out of the World Bank's “Heavily Indebted Poor Country” (HIPC) debt relief initiative. At last, Haiti may soon see some of its IMF and World Bank debt cancelled.

• G8 debt deal one year on:

  6 July 2006

  Approaching the G8 which, this year, will take place in Russia, Eurodad released a usefull report on the advancement of the debt deal.

• Press Release

  The CADTM appalled by World Bank’s empty promises on debt

  31 March 2006

  Nine months after the much-trumpeted announcement in London by the G8 (eight most industrialised countries), the World Bank has only just revealed its mode of cancelling the debt owed to it by some 17 heavily indebted poor countries (HIPC). The agreement, classified as “historic” by World Bank president Paul Wolfowitz, concerns 13 African countries and 4 in Latin America . By July 2006 the debt owed by these countries to the World Bank is due to be written off. A total sum of 37 billion (...)

• Failure to Act on 100% Debt Cancellation a Tragedy, Will Cost Lives

  US Movement for Debt Cancellation Outraged by G-8 Failure on Debt

  by The 50 Years Is Enough Network, Jubilee USA

  13 June 2004

  SAVANNAH, Ga. - Jubilee USA Network and the 50 Years Is Enough Network expressed disappointment this afternoon at the failure of the G-8 leaders to take decisive action by committing to support 100% multilateral debt cancellation for impoverished nations. Over the past several days press reports had indicated that UK Prime Minister Tony Blair had put forth a proposal for 100% debt cancellation for poor countries. This afternoon, however, the leaders of the Group of Eight wealthy (...)

• Bankrupt Africa

  by Patrick Bond

  12 March 2004

  Debt peonage continues, courtesy of Washington, Monterrey and NEPAD.

• Poverty Reduction? or PRSP?

  by Shalmali Guttal

  11 March 2003

  PRSPs will create and entrench policy-induced poverty. They will have little to do with poverty reduction in any meaningful sense. But they will certainly strengthen the grip of the Washington Consensus on the policy environments of recipient countries.

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