There is a debt crisis in HIPCs (Heavily Indebted Poor Countries)
The world's poorest countries give back more in debt repayments to the richest countries than they get in aid.
The world's poorest countries give back more in debt repayments to the richest countries than they get in aid.
The HIPCs are borrowing money from HICs and are stuck in the cycle becuase they are paying back more in interest that HICs give in aid. It's the hole in the bucket!
Applying for debt relief from the G8The G8 are the world's richest countries and the HIPCs can apply for their debt to be cancelled. However they have to meet these conditions:
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