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Debt Relief Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. It concerns in particular the Third World debt, which started exploding with the Latin American debt crisis (Mexico 1982, etc.).
Debt relief for heavily indebted and underdeveloped developing countries was the subject in the 1990s of a campaign by a broad coalition of development NGOs, Christian organizations and others, under the banner of Jubilee 2000. This campaign, involving, for example, demonstrations at the 1998 G8 meeting in Birmingham, was successful in pushing debt relief onto the agenda of Western governments and international organizations such as the International Monetary Fund and World Bank. Ultimately the Heavily Indebted Poor Countries (HIPC) initiative was launched to provide systematic debt relief for the poorest countries, whilst trying to ensure the money would be spent on poverty reduction.
The HIPC programme has been subject to conditionalities similar to those often attached to IMF and World Bank loans, requiring structural adjustment reforms, sometimes including the privatisation of public utilities, including water and electricity. To qualify for irrevocable debt relief, countries must also maintain macroeconomic stability and implement a Poverty Reduction Strategy satisfactorily for at least one year. Under the goal of reducing inflation, some countries have been pressured to reduce spending in the health and education sectors.
Do you need debt relief ? The Law Offices of Terry Haygood has been designated a Debt Relief Agency and helps individuals and families obtain bankruptcy relief. http://www.terryhaygood.com
IRS Debt Relief IRS Tax Debt Relief is a program that the IRS put into practice years ago to allow taxpayers to settle their tax debts for a percentage of what is owed. IRS debt relief comes in many different forms, each of which varies depending on the outstanding tax amount, current financial status and tax penalty as a result of the tax debt. http://irsdebtsrelief.com
