The World Bank has recently released the list of countries who make it to their list of heavily indebted poor countries. There are a total of 34 countries on the World and IMF’s list of heavily indebted poor countries according to data from Business Insider Africa.
Among the countries to make it on the not prestigious list of indebted countries are Ghana, Tanzania, Ethiopia, Benin, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros Island, Democratic Republic of Congo and Republic of Congo.
Other countries to make it on the list of poor and indebted are Ivory Coast, Eritrea, Gambia, Guinea, Guinea-Bissau, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Niger, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Somalia, Sudan, Tanzania, Togo, Uganda and Zambia.
The cataloguing of heavily indebted poor countries is a joint initiative by both the Internation Monetary Fund (IMF) and the World Bank and was launched in 1996. The aim of this initiative according to information obtained from the IMF fact sheet is to ensure poor countries in the world are not saddled a debt burden they cannot overcome.
Of the 40 countries that have been listed to be highly indebted, 33 are in Africa with a combined population of about 760 people.