|
|
Article: REGION: NICARAGUA, HONDURAS CLOSER TO FINAL STAGES OF WORLD BANK DEBT-RELIEF PROGRAM.
- Article from:
- NotiCen: Central American & Caribbean Affairs
- Article date:
- January 11, 2001
CopyrightCOPYRIGHT 2001 Latin American Data Base/Latin American Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
In a press release Dec. 22, the World Bank announced a US$34 billion debt-relief package under its Initiative for Heavily Indebted Poor Countries (HIPC). The program will benefit 22 countries, including Honduras and Nicaragua. The bank estimates that the HIPC program will reduce debt in the countries on the list by half and, considering other debt- relief programs such as that of the Paris Club, the debt burden should eventually be cut by two thirds on average.
The announcement refers to advancement of the 22 countries to the "point of decision," which means they will receive some immediate reduction in debt-service payments. The recipient states must now show ...