In what year was the HIPC Initiative established?

In what year was the HIPC Initiative established?

• A. 1986
• B. 1990
• C. 1996
• D. 2005

Answer: (C)

The HIPC Initiative was established in 1996. It was created by the IMF and the World Bank in response to mounting debt burdens in the world’s poorest countries during the debt crises of the 1980s and early 1990s. The goal is to provide enough debt relief to bring a country’s external debt to sustainable levels, freeing resources for poverty reduction and essential services like health and education. That launch year is 1996, not earlier or later dates.

The HIPC Initiative was established in 1996. It was created by the IMF and the World Bank in response to mounting debt burdens in the world’s poorest countries during the debt crises of the 1980s and early 1990s. The goal is to provide enough debt relief to bring a country’s external debt to sustainable levels, freeing resources for poverty reduction and essential services like health and education. That launch year is 1996, not earlier or later dates.