This study will focus on debt relief under the Highly Indebted Poor Countries Initiative (HIPC) and explore its legal basis. The Initiative was first launched in 1996 and modified three years later in order to expand eligibility for the program. The 1999 Initiative, in its modified and enhanced version, will be the subject of this investigation.
HIPC debt relief is jointly conducted by IMF and World Bank. It targets low-income countries and ascertains the extent of debt relief to the amount necessary to achieve debt sustainability. Compared to earlier debt relief efforts, debt relief under the HIPC program is unique because it also includes multilateral debts, i.e., debt owed to multilateral financial institutions.
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© 2009 Max-Planck-Gesellschaft zur Förderung der Wissenschaften e.V., to be exercised by Max-Planck Institut für ausländisches üffentliches Recht und Völkerrecht, Heidelberg
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(2009). Introduction. In: Guder, L.F. (eds) The Administration of Debt Relief by the International Financial Institutions. Beiträge zum ausländischen öffentlichen Recht und Völkerrecht, vol 202. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-88609-9_1
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DOI: https://doi.org/10.1007/978-3-540-88609-9_1
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