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Ghana, Tanzania, Ethiopia and 30 others are on the World Bank's heavily indebted poor countries' list
Emmanuel Abara Benson
November 12, 2021 10:59 AM
Poorest countries in Africa in 2021
- The heavily indebted poor countries' list is a joint initiative by the World Bank and the International Monetary Fund.
- The aim of the initiative is to ensure that no poor country in the world ever faces a debt burden it cannot manage.
- Out of 36 countries on the list, African countries dominate.
There are currently about 34 African countries on the World Bank and IMF's heavily indebted countries' list, according to data obtained by Business Insider Africa.
Among these heavily indebted poor countries are: Ghana, Tanzania, Ethiopia, Benin, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros Islands, Democratic Republic of Congo and Republic of Congo. Others include: Ivory Coast, Eritrea, Ethiopia, 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 heavily indebted poor countries' list is a joint initiative by the World Bank and the International Monetary Fund (IMF) which was launched in 1996. According to information obtained from the IMF fact sheet, the aim of the initiative is to ensure that no poor country in the world ever faces a debt burden it cannot manage.
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