World Bank and IMF Announce $1.1 Billion in Debt Relief for Chad (tags)
The International Monetary Fund (IMF) and the World Bank announced $1.1 billion in debt relief for Chad. The money comes through the IMF and World Bank's two major debt relief programs: the Heavily Indebted Poor Country Initiative (HIPC) and the Multilateral Debt Relief Initiative (MDRI). Chad is the 36th country to receive HIPC relief and the first since 2012. Chad is the fourth-least developed country in the world. More than half its population lives in poverty.
Hypocrisy that underlies HIPC (tags)
Vultures at the IMF/World Bank use accounting tricks to starve and further impoverish the poor.
Sachs says: 'Forget Debt, Spend on AIDS' (tags)
Columbia University economist Jeffrey Sachs says poor countries should simply stop making debt service payments and spend that money on health & education instead. As Jubilee South says, "Don't Owe, Won't Pay."