This is a new story off the AP Wire about Kyrgyzstan, which is currently embroiled in a debate over membership in the World Bank/IMF's HIPC (Highly Indebted Poor Countries) program. Most of the time, as countries wend their way through the HIPC process, they must accept economic/monetary policies from the World Bank/IMF in order to receive debt cancellation (when they reach completion point). Here's an excerpt and a link to the story below:
Kyrgyzstan President Kurmanbek Bakiyev said joining the Heavily Indebted Poor Countries Initiative was promoted by the "corrupt" government of Askar Akayev, who was ousted as the country's leader nearly two years ago.
He said not joining the HIPC — a World Bank and International Monetary Fund program — did not mean Kyrgyzstan would stop receiving aid from international donors, and he said he had called on World Bank officials to make upcoming aid "more effective."
"By deciding to join the HIPC the previous government acknowledged its own weakness, its inability to overcome the crisis our country was in," Bakiyev said. READ MORE
What do you think of the Kyrgyzstan government's decision?
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