HIPC
noun[plural]
ECONOMICSukusabbreviation for
heavilyindebtedpoorcountries:countrieswithout muchmoneywhosegovernmentsowea lot ofmoneyto othercountriesandinternationalbanks:
Under theHIPC Initiative, thepooreststatesgetfinancialhelpfrom theInternationalMonetary Fund tospendonprogrammestocombatpoverty.