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Heavily Indebted Poor Countries
The heavily indebted poor countries (HIPC) are a group of 39 developing countries with high levels of poverty and debt overhang which are eligible for special assistance from the International Monetary Fund (IMF) and the World Bank. The HIPC Initiative was initiated by the International Monetary Fund and the World Bank in 1996, following extensive lobbying by NGOs and other bodies. It provides debt relief Debt relief or debt cancellation is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particu ... 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."Developing Countries: Status Of The Heavily Indebted Poor Countries Debt Relief Initiative: NSIAD-98-229." ''GAO Reports'' (1998): 1. ''MasterFILE Premier''. Web. 10 Sept. 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heavily Indebted Poor Countries As Of 29 Jan 2021
Heavy may refer to: Measures * Heavy (aeronautics), a term used by pilots and air traffic controllers to refer to aircraft capable of 300,000 lbs or more takeoff weight * Heavy, a characterization of objects with substantial weight * Heavy, a type of strength of Scottish beer * Heavy reader, a reader of 21 or more books per year, according to the Pew Internet and American Life Project report, "The Rise of E-Reading" (2012) Arts, entertainment, and media Music Groups * The Heavy (band), a rock band from England Albums * ''Heavy'' (Heavy D album), 1999 * ''Heavy'' (Iron Butterfly album), a 1968 album by Iron Butterfly * ''Heavy'' (Bin-Jip album), the second studio album by Bin-Jip Songs * "Heavy" (Collective Soul song), 1999 * "Heavy" (Lauri Ylönen song), 2011 * "Heavy" (Linkin Park song), 2017 * "Heavy" (Anne-Marie song), 2017 * "Heavy", by Cxloe, 2020 * "Heavy", by Flight Facilities featuring Your Smith, 2021 * "Heavy", by Peach PRC, 2021 Television * ''Heavy'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Development Association
The International Development Association (IDA) (french: link=no, Association internationale de développement) is an international financial institution which offers concessional loans and grants to the world's poorest developing countries. The IDA is a member of the World Bank Group and is headquartered in Washington, D.C. in the United States. It was established in 1960 to complement the existing International Bank for Reconstruction and Development by lending to developing countries which suffer from the lowest gross national income, from troubled creditworthiness, or from the lowest per capita income. Together, the International Development Association and International Bank for Reconstruction and Development are collectively generally known as the World Bank, as they follow the same executive leadership and operate with the same staff. The association shares the World Bank's mission of reducing poverty and aims to provide affordable development financing to countries who ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third World Debt Cancellation Activism
Third or 3rd may refer to: Numbers * 3rd, the ordinal form of the cardinal number 3 * , a fraction of one third * 1⁄60 of a ''second'', or 1⁄3600 of a ''minute'' Places * 3rd Street (other) * Third Avenue (other) * Highway 3 Music Music theory *Interval number of three in a musical interval **major third, a third spanning four semitones **minor third, a third encompassing three half steps, or semitones **neutral third, wider than a minor third but narrower than a major third **augmented third, an interval of five semitones **diminished third, produced by narrowing a minor third by a chromatic semitone *Third (chord), chord member a third above the root *Degree (music), three away from tonic **mediant, third degree of the diatonic scale **submediant, sixth degree of the diatonic scale – three steps below the tonic **chromatic mediant, chromatic relationship by thirds *Ladder of thirds, similar to the circle of fifths Albums *''Third/Sister Lovers'', a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Development
International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale. It is the basis for international classifications such as developed country, developing country and least developed country, and for a field of practice and research that in various ways engages with international development processes. There are, however, many schools of thought and conventions regarding which are the exact features constituting the "development" of a country. Historically, development was largely synonymous with economic development, and especially its convenient but flawed quantification (see parable of the broken window) through readily gathered (for developed countries) or estimated monetary proxies (estimated for severely undeveloped or isolationist countries) such as gross domestic product (GDP), often viewed alongside actuarial measures such as life expectancy. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Debt
A country's gross government debt (also called public debt, or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to the global financial crisis of 2007–2008, and the COVID-19 pandemic. The ability of government to issue debt has been central to state formation and to state building. Public debt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odious Debt
In international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion. Despite antecedents dating back to the 1800s and support from diverse fields such as economics, philosophy, political science, history, and law, odious debt is not part of international law; in fact, " national or international tribunal has ever cited Odious Debt as grounds for invalidating a sovereign obligation."Mitu Gulati, Duke University School of Law; Ugo Panizza, The Graduate Institute Geneva and CEPR. The Hausmann-Gorky Effect. Working Paper No. HEIDWP02-2018. Graduate Institute of International and Development Studies, International Economics Department. Instead, internation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Millennium Development Goals
The Millennium Development Goals (MDGs) were eight international development goals for the year 2015 that had been established following the Millennium Summit of the United Nations in 2000, following the adoption of the United Nations Millennium Declaration. These were based on the OECD DAC International Development Goals agreed by Development Ministers in the "Shaping the 21st Century Strategy". The Sustainable Development Goals (SDGs) succeeded the MDGs in 2016. All 191 United Nations member states, and at least 22 international organizations, committed to help achieve the following Millennium Development Goals by 2015: # To eradicate extreme poverty and hunger # To achieve universal primary education # To promote gender equality and empower women # To reduce child mortality # To improve maternal health # To combat HIV/AIDS, malaria, and other diseases # To ensure environmental sustainability # To develop a global partnership for development Each goal had specific targets, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MDRI
Multilateral Debt Relief Initiative (MDRI) was approved on June, 2005, by the finance ministers of the G8 during the 31st G8 Summit, held at Gleneagles, Scotland. MDRI is different to HIPC, but operationally related. Countries in the termination point get full relief of their debt with IMF, International Development Association (IDA) and the African Development Bank (AfDB). MDRI was approved for encouraging debtor countries to continue their political reforms. For reasons of equal treatment of Low Income Countries (LIC) the relieved debts were counted when new ancillary remedies were guaranteed by IDA and AfDB. G8 members committed themselves to compensate IDA and AfDB refluxes with further remedies. These compensations will be shared among IDA and AfDB beneficiary countries according to the efforts they make (performance based allocation). How does MDRI work IMF, IDA and AfDB fully relieve the debt of countries which attain (after complying with specific conditions that are detai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Percentage Of Population Living In Poverty
Countries by percentage of population living in poverty, as recorded by World Bank and other sources. Methodology "Poverty" is defined as an economic condition by the lack of both money and basic necessities needed to live successfully, such as food, water, utilities, and housing. There are many working definitions of "poverty", with considerable debate on the most accurate definition of the term. Lack of income security, economic stability and the predictability of one's continued means to meet basic needs all serve as absolute indicators of poverty. Poverty may therefore also be defined as the economic condition of lacking predictable and stable means of meeting basic life needs. The first table lists countries by the percentage of their population with an income of less than $1.90 (the extreme poverty line), $3.20 and $5.50 US dollars a day in 2011 international (PPP) prices. The data is from the most recent year available from the World Bank API. The second table lists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Emergency Response Fund
The Central Emergency Response Fund (, CERF/FCIU) is a humanitarian fund established by the United Nations General Assembly on December 15, 2005 and launched in March 2006. With CERF’s objectives to 1) promote early action and response to reduce loss of life; 2) enhance response to time-critical requirements; and 3) strengthen core elements of humanitarian response in underfunded crises, CERF seeks to enable more timely and reliable humanitarian assistance to those affected by natural disasters and armed conflicts. The fund is replenished annually through contributions from governments, the private sector, foundations and individuals. From the fund’s inception till August 2013, donors include 125 Member States and more than 30 private donors and regional authorities. History and background CERF was created by all nations, for all potential victims of disasters. It represents a real chance to provide predictable and equitable funding to those affected by natural disasters and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty Reduction Strategy Paper
Poverty Reduction Strategy Papers (PRSPs) are documents required by the International Monetary Fund (IMF) and World Bank before a country can be considered for debt relief within the Heavily Indebted Poor Countries (HIPC) initiative. PRSPs are also required before low-income countries can receive aid from most major donors and lenders. The IMF specifies that the PRSP should be formulated according to five core principles. The PRSP should be country-driven, result-oriented, comprehensive, partnership-oriented, and based on a long-term perspective. The PRS process encourages countries to develop a more poverty-focused government and to own their own strategies through developing the plan in close consultation with the population. A comprehensive poverty analysis and wide-ranging participation are vital parts of the PRSP formulation process. There are many challenges to PRS effectiveness, such as state capacity to carry out the established strategy. Criticism of PRSP include aid condit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty Reduction And Growth Facility
The Poverty Reduction and Growth Facility (PRGF) is an arm of the International Monetary Fund which lends to the world's poorest countries. It was created on September 16, 1999, replacing the Enhanced Structural Adjustment Facility The Enhanced Structural Adjustment Facility (ESAF) was a program of financial assistance given to poor countries from December 1987 through 1999 through the International Monetary Fund. It replaced the Structural Adjustment Facility (SAF) and was .... In 2009 the organization sold 212 metric tons of gold in separate off-market transactions and then gradually sold 191.3 tons of gold to fund the SDR 1¼ billion yearly lending program to the targeted nations.International Monetary Fund. (16 March 2021). "Factsheet: Gold in the IMF"IMF websiteRetrieved 20 June 2021. References {{reflist External links International Monetary Fund International finance International development Intergovernmental organizations Global policy organizations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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