Hipc in a sentence

In the last week there have been reports and information shared on social media platforms claiming that due to the country’s current debt situation, Ghana has been classified for HIPC.

Mr. Speaker, in 2001, Ghana had no choice but to swallow her pride and to sign up to the HIPC initiative, a legacy left by the outgoing NDC government.

SMP IV to establish the track record on policies required to reach the Decision Point (DP) under the Heavily Indebted Poor Countries (HIPC) Initiative.

We reached HIPC completion point not too long ago.

While Ghana’s debt to GDP of almost 60 percent may not have hit pre-HIPC levels, there is every indication that it will have to move beyond dependence on the export of commodities to escape the debt trap.

However, in order to benefit from the HIPC Initiative today – which would take into account multilateral, official bilateral and private external debt – Zimbabwe must maneuver through some important obstacles.

Fiscal policy is constrained by erratic fiscal revenues, a bloated civil service wage bill, and an external debt that is far above the HIPC threshold.

In 2005, finance ministers of the leading eight industrialized nations ( G8 ) agreed to forgive some of Nicaragua's foreign debt, as part of the HIPC program.

In an effort to reach HIPC completion in 2004, the government drafted an austerity budget for 2004, freezing civil service salaries and increasing a number of taxes.

In April 2000, Mozambique qualified for the Enhanced HIPC program as well and attained its completion point in September 2001.

Initially, Zambia hoped to reach the HIPC completion point, and benefit from substantial debt forgiveness, in late 2003.

In July 2000, Honduras reached its decision point under the Heavily Indebted Poor Countries Initiative (HIPC), qualifying the country for interim multilateral debt relief.

In October 2004, the boards of the IMF and the World Bank determined that Madagascar had reached the completion point under the enhanced HIPC Initiative.

In qualifying for HIPC assistance, for the first time, Guyana became eligible for a reduction of its multilateral debt.

Malawi qualified for Heavily Indebted Poor Country (HIPC) debt relief and is in the process of refining its Poverty Reduction Strategy.

Tanzania has qualified for debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) initiative.

These amounts combined with the original HIPC debt relief added up to about $2 billion.

This process was boosted in late 2000 when Nicaragua reached the decision point under the Heavily Indebted Poor Countries (HIPC) debt relief initiative.

With a high foreign debt (originally $5.7 billion at 1998 net present value) and a good track record on economic reform, Mozambique was the first African country to receive debt relief under the initial Heavily Indebted Poor Country (HIPC) Initiative.

Zambia qualified for HIPC debt relief in 2000, contingent upon the country meeting certain performance criteria, and this should offer a long-term solution to Zambia's debt situation.