In 1996, with the International Monetary Fund (IMF), we launched the Heavily Indebted Poor Countries (HIPC) Initiative—the first comprehensive effort to cut the debts of the world’s poorest, most indebted countries. Today, 28 countries are receiving debt relief that will amount to US$56 billion over time. The HIPC Initiative, combined with other types of debt relief, will cut by two-thirds the external debt in these countries, lowering their debt levels to below the overall average for developing countries. As part of the initiative, these countries are using government funds freed up by debt relief for programs to cut poverty. For example, Rwanda has set targets to hire teachers and increase the number of children who enroll in primary school. Honduras plans to deliver basic healthcare to at least 100,000 people in poor communities. Cameroon is strengthening the fight against HIV/AIDS by, among other things, expanding education to promote the use of condoms by high-risk groups.