The World Bank advises those countries that have to undergo the IMF’s therapy on such matters as how to reduce budget deficits, round up savings, enduce foreign investors to settle within their ...

In 1996 the IMF and the World Bank launched an initiative aimed at reducing the debt burden for some 41 heavily indebted poor countries (HIPC), whose total debts amount to about 10% of the Third World ...

The Heavily Indebted Poor Countries (HIPC) Initiative, launched in 1996, was the first comprehensive effort by the international community to reduce the external debt of the world's poorest countries.

In time, it became clear that countries' repayment problems were not just temporary and that a more comprehensive solution was needed. In 1996, a new debt relief initiative for the heavily-indebted ...

Ray Dalio, the founder of Bridgewater Associates, says it is game time for heavily indebted countries to avert a debt crisis in the U.S. and elsewhere. Failing to take serious action risks ...

The International Monetary Fund (IMF) announced Friday a series of cuts on overcharges to countries heavily in debt, which, albeit moderate, could benefit Argentina among other nations.

That followed the December IMF-World Bank deal sealed when Somalia reached the "completion point" of a debt management scheme ...

Somalia’s Minister of Finance Bihi Iman Egeh announced that the country has successfully settled around $4.5 billion in debt ...