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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

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"Economic Growth In African Cities Like Lagos, Nairobi And Addis Ababa Paints The Urban Poor Into A Desperate Corner"

Rich-poor divide 'wider than 40 years ago'

A decade ago, unmarried Arab women like Ms. Fathi, working outside their home countries, were rare. But just as young men from poor Arab nations flocked to the oil-rich Persian Gulf states for jobs, more young women are doing so, sociologists say, though no official statistics are kept on how many.

A 30-month campaign to teach thousands of poor Bolivians to read and write has made the country "illiteracy free", President Evo Morales has declared.

The working conditions of many poor African migrants in rural areas of southern Italy are "appalling", the international medical charity MSF says

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Multidimensional Poverty Index shows regional variations of poverty within middle and low income countries

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The world's second biggest pharmaceutical company is to radically shift its attitude to providing cheap drugs to millions of people in the developing world.