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Commonwealth of Massachusetts Executive Office of Health and Human Services Office of Medicaid www.mass.gov/masshealthHIPC P.O. BOX 4405 TAUNTON MA 027800968Tel: (800) 8412900 TTY: (800) 4974648 Fax:.

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Rich and Poor Countries Rich countries should not forgive poor countries all their debt since their poverty is not the responsibility of the rich countries, which when forgiven risk failing to use forgiven debts to revive their economies, but need to establish the underlying reasons for their poverty and fix them.

The difference with HIPC consists of MDRI not covering all creditors, only IMF, IDA and AfDB.

The IMF and World Bank launched the Heavily Indebted Poor Countries (HIPC) Initiative in 1996 to ensure that no poor country faces an unmanageable debt burden.

How does debt relief help poor countries and the poor? Debt relief is part of a larger effort to address the development needs of low-income countries. For debt reduction to have a tangible impact on poverty, the additional money needs to be spent on programs that benefit the poor.

Larger debt-service payments can also inhibit growth by squeezing the public resources available for investment in infrastructure and human capital. Indeed, such nongovernmental organizations as Oxfam International see high external debt service as a key obstacle to meeting basic human needs in developing countries.

It provides debt relief and low-interest loans to cancel or reduce external debt repayments to sustainable levels, meaning they can repay debts in a timely fashion in the future. To be considered for the initiative, countries must face an unsustainable debt burden which cannot be managed with traditional means.

First, if you compare between different countries in the world, then you find that the gap between rich and poor countries has to a certain extent shrunk in recent times with the poorest countries in the world becoming quite a lot richer in the last 4 or 5 decades.

Low-income countries face huge economic challenges and financing needs. They rely on international institutions, including the IMF's Poverty Reduction and Growth Trust, for vital policy and financial support. Economically stronger countries have a responsibility to contribute to the funding of this support.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232