Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) - Status of Implementation 2008

This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.

Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)- Status of Implementation

Policy Papers ◽

10.5089/9781498333375.007 ◽

2007 ◽

Vol 2007 (31) ◽

Author(s):

Keyword(s):

Poor Country ◽

Debt Relief ◽

Poor Countries ◽

The Status ◽

This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.

Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) - Status of Implementation 2009

Policy Papers ◽

10.5089/9781498335461.007 ◽

2009 ◽

Vol 09 ◽

Author(s):

Keyword(s):

Poor Country ◽

Debt Relief ◽

Decision Point ◽

Poor Countries ◽

The Status ◽

Substantial Progress ◽

This paper updates the status of implementation, impact, and costs of the Enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI). Debt relief provided under the Initiatives has substantially alleviated debt burdens in recipient countries. Aided by continued flexibility on the part of IDA and the Fund, substantial progress has been achieved under the Initiatives since the last report, and a number of post-decision-point countries have already benefited from debt relief.

Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)-Status of Implementation and Proposals for the Future of the HIPC Initiative

Policy Papers ◽

10.5089/9781498338295.007 ◽

2011 ◽

Vol 11 (59) ◽

Author(s):

Keyword(s):

Low Income ◽

Poor Country ◽

Debt Relief ◽

Low Income Countries ◽

Poor Countries ◽

The Future ◽

The Status ◽

This report aims to accomplish three objectives: (a) it provides an update on the status of implementation, impact, and costs of the Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI); (b) it proposes a modification of the reporting of progress under the initiatives, including the discontinuation of the annual status of implementation reports, and the preparation of periodic reports on debt vulnerabilities in low income countries (LICs), including HIPCs; and (c) it proposes a further ring-fencing of the list of countries eligible or potentially eligible for debt relief under the HIPC Initiative based on end-2010 income and indebtedness criteria.

Heavily Indebted Poor Countries Initiative and Multilateral Debt Relief Initiative - Statistical Update

Policy Papers ◽

10.5089/9781498342032.007 ◽

2013 ◽

Vol 2013 (86) ◽

Cited By ~ 17

Author(s):

Keyword(s):

Debt Relief ◽

Cost Of Debt ◽

Participation Rates ◽

Poor Countries ◽

The Past ◽

The Status ◽

Hipc Initiative ◽

The Cost ◽

The Imf

This report provides an update on the status of implementation of the HIPC Initiative and the MDRI over the past year. Given that most HIPCs have reached the completion point, in November 2011, the IMF and IDA Boards2 endorsed staff’s proposal to further streamline reporting of progress under the HIPC Initiative and MDRI. It was agreed that the annual HIPC Initiative/MDRI status of implementation report will be discontinued, while the core information—on debt service and poverty reducing expenditure, the cost of debt relief, creditor participation rates, and litigation against HIPCs—should continue to be made available and updated regularly on the IMF and World Bank websites.

Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI) - Status of Implementation

Policy Papers ◽

10.5089/9781498332293.007 ◽

2006 ◽

Vol 2006 (48) ◽

Cited By ~ 2

Author(s):

Keyword(s):

Poverty Reduction ◽

Debt Relief ◽

Debt Service ◽

Poor Countries ◽

The Status ◽

Hipc Initiative ◽

Paris Club ◽

The Imf

This report reviews progress and issues in implementing the enhanced Heavily Indebted Poor Countries (HIPC) Initiative and reports on the implementation of the Multilateral Debt Relief Initiative (MDRI) by IDA, the IMF, and AfDF. It concludes that the volume of debt relief has increased significantly since the inception of the HIPC Initiative in 1996, thereby reducing HIPCs’ debt service burdens and allowing them to finance increased poverty reduction efforts. It also provides updated information on the costs of debt relief under the HIPC Initiative and the MDRI. Finally, it reviews the status of creditor participation and delivery of debt relief under the two initiatives, highlighting the challenges to increase the participation by non–Paris Club official bilateral and commercial creditors in the HIPC Initiative.

Heavily Indebted Poor Countries Initiative-Delivery of Debt Relief by Non-Paris Club Official Bilateral Creditors

Policy Papers ◽

10.5089/9781498333207.007 ◽

2007 ◽

Vol 2007 (27) ◽

Author(s):

Keyword(s):

Poor Country ◽

Debt Relief ◽

Poor Countries ◽

Comprehensive Information ◽

Hipc Initiative ◽

Paris Club

The table provides information on HIPC (Heavily Indebted Poor Country) Initiative debt relief provided by each non-Paris Club official bilateral creditor to post-completion point HIPCs. It tracks the HIPC Initiative debt relief granted by these creditors so far. The table will be updated annually in the context of the "HIPC Initiative Status of Implementation Report." It will also be updated when creditors and debtors provide comprehensive information for updating the estimates of HIPC Initiative debt relief provided.

Debt Relief for the Poorest: An Assessment of the Heavily-Indebted Poor Countries (HIPC) Initiative

International Studies Review ◽

10.1163/2667078x-00502004 ◽

2004 ◽

Vol 5 (2) ◽

pp. 63-80

Author(s):

Shalendra D. Sharma

Keyword(s):

External Debt ◽

Essential Element ◽

Debt Relief ◽

Full Potential ◽

Poor Countries ◽

Hipc Initiative ◽

Development Outcomes ◽

High Level ◽

Sustainability Assessments

High level of external debt poses a serious constraint on the ability of poor countries to pl.ll.'SUe sustainable development and reduce poverty. The Heavily Indebted Poor Countries (HIPC) Initiative was designed to relieve the high external debt of some of the world's poorest nations by either writing-off or reducing debt to sustainable levels. It was launched by the World Bank and the International Monetary Fund (IMF) in 19% and "enhanced" in 19()9 to expand and accelerate the process of debt relief and free scarce public resources fur sustainable economic development, in particular, broad based development to reduce poverty. Whether debt relief, in general, or the HIPC Initiative, in particular, can achieve such development outcomes has been the subject of much debate. 1bis paper argues while the HIPC initiative is a positive step towards debt relief and sustainability, it is important to note that sustainable debt is not an end in itself, but should be an essential element in realizing the growth needed to reduce poverty and achieve the Millennium Development Goals (MDGs). To realize the full potential of debt relief, donor countries will not only have to be more generous, and the recipient countries need to undertake deeper structural reforms, debt sustainability assessments should specifically take into account how the poor countries can achieve the MDGs.

Somalia

IMF Staff Country Reports ◽

10.5089/9781513538327.002 ◽

2020 ◽

Vol 20 (86) ◽

Author(s):

Keyword(s):

Low Income ◽

Net Present Value ◽

Debt Relief ◽

Debt Management ◽

Policy Framework ◽

Low Income Countries ◽

Debt Sustainability ◽

Poor Countries ◽

This paper presents an assessment of Somalia’s eligibility for assistance under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. The macroeconomic framework reflects the policy framework underlying the proposed three-year Fund-supported program. The debt relief analysis (DRA) remains largely unchanged, but some of the underlying debt data has been updated to reflect new information from creditors. In addition, this paper presents an assessment of debt management capacity in Somalia and a full Debt Sustainability Analysis under the Debt Sustainability Framework for Low-Income Countries. The DRA reveals that, after traditional debt relief mechanisms are applied, Somalia’s debt burden expressed as the net present value of debt-to-exports ratio is 344.2 percent at the end of December 2018—significantly above the HIPC Initiative threshold. Despite the challenging environment, progress on reform and policy implementation has been good and sustained reforms have translated into economic results. In addition to the coordinated support from the World Bank and the IMF, reforms have been supported by other development partners.

Heavily Indebted Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)--Status of Implementation

Policy Papers ◽

10.5089/9781498336840.007 ◽

2010 ◽

Vol 2010 (83) ◽

Author(s):

Keyword(s):

Poor Country ◽

Debt Relief ◽

Significant Progress ◽

The Status ◽

Continued Use ◽

This report provides an update on the status of implementation, impact, and costs of the Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI). Debt relief provided under the Initiatives has substantially alleviated debt burdens in recipient countries. Through the continued use by IDA and the Fund of the flexibility available in the framework governing the HIPC Initiative and the MDRI, significant progress has been achieved under the Initiatives since the last report.