Multilateral Debt Relief Initiative (MDRI)

The Multilateral Debt Relief Initiative (MDRI) is a global program aimed at reducing the debt burdens of the world's poorest countries. Launched in 2005 by the International Monetary Fund (IMF), the World Bank, and other organizations, it provides debt relief to countries that meet specific economic criteria. This means that eligible nations can have their debts canceled or significantly reduced, allowing them to redirect funds towards investing in essential public services like education and healthcare, ultimately helping to alleviate poverty and foster economic development.