Heavily indebted poor countries

Heavily indebted poor countries (HIPC) are 39 developing countries with high poverty and debt overhang. The International Monetary Fund and World Bank classify them as eligible for special assistance. Established by those institutions in 1996, the HIPC Initiative offers debt relief and low-interest loans to reduce external debt repayments to sustainable levels. Countries must have an unsustainable debt burden and meet economic management, performance, and reform conditions.

Countries covered

39 developing countries

Initiated

1996

Assistance

Debt relief and low-interest loans