Welcome to “HIPC Junction”, Accra, Ghana!

Depending on where you live and what you do HIPC may or may not mean much to you. For geeks, the International Conference on High Performance Computing (HiPC) may come to mind. But for those of us living in Sub-Saharan Africa, HIPC is a constant reminder of the harsh economic reality that is so prevalent in the society.

The HIPC (Highly Indebted Poor Country) program was initiated by the International Monetary Fund and the World Bank in 1996, following extensive lobbying by NGOs and other bodies. It provides debt relief and low-interest loans to reduce external debt repayments to sustainable levels.

HIPC ought to be advantageous; instead, Ghana’s President John Agyekum Kufuor and his New Patriotic Party’s decision to sign on to the HIPC initiative within weeks of taking office in December 2000 remains second only to the January 2003’s 92% oil price rise in unpopularity with Ghanaians. Trust me, it’s no joke to be walking about carrying a placard that says you’re “poor and heavily indebted”.

Today in Ghana, HIPC (pronounced “hipic”) has become daily a jargon. To “go HIPC” means to go broke. A cheap, inferior product is referred to as HIPC, the NPP government that started it all is called the “HIPC government”, the President “HIPC President” … and on and on and on.

But the fun doesn’t just end there. Our President is not only the “HIPC President”, but the junction leading to his private residence in Accra has also been dubbed “HIPC Junction.” And you can imagine my joy when I recently came across this sign below erected by the Ministry of Tourism and Diaspora Relations! Good job, Mr Minister!