HIPCIHighly Indebted Poor Country Initiative
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References in periodicals archive ?
However, disputing the give-and-leave doctrine does not necessarily mean accepting the HIPCI's multi-stage compartments and inconsistencies.
For example, debt relief under the HIPCI is calibrated to ensure that countries emerge from the process with a net present value of debt-to-exports less than 150 percent.
HIPCI ratios have been imported, and despite the fact that they make some economic sense, they are disconnected from each country's particular economic situation.
The World Bank and the IMF are slowly abandoning the strict ratios of the HIPCI to turn to "indicative guideposts to better inform future lending and borrowing decisions.
However, compared with other low-income countries, the policy and institutional frameworks of countries that have reached the completion point of the HIPCI are, in general, still relatively weak, and their debt-management practices remain inferior to international standards.
From the Brady plan to the HIPCI, low-income countries were kept at bay by the hardcore believers in orthodox economy.