IMF and World Bank Establish Enhanced HIPC Debt Relief Agreement
1 report, 1 independent
Updated Fri 04:50
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What happened
The International Monetary Fund and the World Bank established the Enhanced HIPC agreement in Cologne on January 1, 1999. This initiative deepened the debt relief offered through the Heavily Indebted Poor Countries program, which had been launched in 1996.
From zunia.org
Why it matters
The relief was not a simple cancellation but a structured process requiring explicit conditionality. Countries needed to demonstrate sustained performance under an IMF-supported program and implement structural reforms to exit the relief framework. Furthermore, eligible countries had to prepare a Poverty Reduction Strategy Paper to explain how freed-up resources would reach the poor.
From zunia.org
Who's involved
- International Monetary FundInternational financial institution that co-launched the debt relief program
- World BankInternational financial institution that co-launched the debt relief program
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The entities involved
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International Monetary Fund
international financial institution
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World Bank
international financial institution