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"Factsheet Debt Relief Under the Heavily Indebted Poor Countries (HIPC) Initiative September 22, 2009 The Joint IMF-World Bank's comprehensive approach to debt reduction is designed to ensure that no poor country faces a debt burden it cannot manage. To date, debt reduction packages under the HIPC Initiative have been approved for 35 countries, 29 of them in Africa, providing US$51 billion in debt-service relief over time. Five additional countries are potentially eligible for HIPC Initiative assistance. Debt relief key to poverty reduction The HIPC Initiative was launched in 1996 by the IMF and World Bank, with the aim of ensuring that no poor country faces a debt burden it cannot manage. Since then, the international financial community, including multilateral organizations and governments have worked together to reduce to sustainable levels the external debt burdens of the most heavily indebted poor countries. In 1999, a comprehensive review of the Initiative allowed the Fund to provide faster, deeper, and broader debt relief and strengthened the links between debt relief, poverty reduction, and social policies. In 2005, to help accelerate progress toward the United Nations Millennium Development Goals (MDGs) , the HIPC Initiative was supplemented by the Multilateral Debt Relief Initiative (MDRI) . The MDRI allows for 100 percent relief on eligible debts by three multilateral institutions-the IMF, the World Bank, and the African Development Fund (AfDF)-for countries completing the HIPC Initiative process. In 2007, the Inter-American Development Bank (IaDB) also decided to provide additional ("beyond HIPC") debt relief to the five HIPCs in the Western Hemisphere. Two step process Countries must meet certain criteria, commit to poverty reduction through policy changes and demonstrate a good track-record over time. The Fund and Bank provide interim debt relief in the initial st

We all know that adapting to climate change is going to cost us -- but that doing nothing will ultimately cost us even more -- however, a new report from the International Institute for Environment and Development says that the real costs of adaptation are likely to be 2-3 times greater than those estimated by the UN Framework Convention on Climate Change :

In summary- the Japanese have developed the ability to extract a new (well actually it is old, but new type of gas to us) from deep within the ocean seabed.  This not unlike the recent developments with Shale Gas in the United States.  The process is far from perfect yet (and still in its infancy), but given the recent developments, it is likely that the Japanese will invest more into this project in order to fully realize the potential of this energy source.   a couple of points-  This new gas (methane hydrate) would still be considered a fossil fuel, but would burn cleaner than many of Japan's current energy suppliers (coal). Japan's largest supply of energy (nuclear) is under heavy scrutiny lately after the Fukishima disaster- which could be argued as the largest, most far reaching enviornmental disaster in History.  They are trying to move away from relience on nuclear energy which has resulted in a heavy increase on imported fossil fuels (coal, oil, natural gas)- which has had the consequence of driving up energy prices for its citizens and hurting the economy. If this energy source were to work out/pay out- this would bring much needed relief to Japan's "energy crisis" and relience on imported fossil fuels. This extraction of this new type of energy, like Shale Oil and Gas, is likely very very risky and could have calamatious effects on the surrounding enviornment, if in the event a spill/leak where to happen (this gas is deep deep within the ocean seabed.. A leak would be very very hard to stop). Recent developments could mean movement away from Japan's current trend of investing in (and development of) green energies such as wind, solar, and geothermal. The exact properties of undersea hydrates and how they might affect the environment are still poorly understood, given that methane is a greenhouse gas.   So my questions are: Should Japan pursue this course of action (developing this new type of energy)? What happens if

The cost of petrol and oil: How it breaks down

The crazy cost of sustainable alternatives. 350,000 pounds for 18 houses of electricity?

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Recycling is good for the environment, but it costs. Is it worth it?

Find out the cold, hard numbers on how much you can reduce your numerical carbon footprint and your grocery bill by switching to these seven low emission eats.

Childcare costs and lack of flexibility blamed for dramatic decline in number of top female executives"