Public Information Notice: IMF Executive Board Discusses the Status of Implementation of the Enhanced HIPC Initiative
September 30, 2004

Enhanced HIPC Initiative: Possible Options Regarding the Sunset Clause
July 7, 2004

Debt Initiative for the Heavily Indebted Poor Countries (HIPCs)
A Factsheet

Documents Related to the October 2, 2004 IMFC Meeting



Heavily Indebted Poor Countries (HIPC) Initiative—Status of Implementation

Prepared by the Staffs of the IMF and the World Bank

August 20, 2004

Use the free Adobe Acrobat Reader to view the full text of the 435 kb pdf file.

Contents

I. Executive Summary
     
II. Introduction
     
III. Implementation Update
A.  Progress in Qualifying for HIPC Initiative Relief
B.  Impact of HIPC Initiative Relief
     
IV. Update of Costs
A.  Projected Costs of HIPC Initiative Relief
B.  Potential Costs of Topping Up
     
V. Creditor Participation
A.  Multilateral Creditors
B.  Official Bilateral Creditors
C.  Commercial Creditors and Creditor Litigation
     
VI. Other HIPC Initiative Issues
A.  Extension of the Sunset Clause
B.  The Analysis for Topping Up
     
VII. Debt and Debt Service in Post-Completion Point Countries
     
VIII. Issues for Discussion
     
Figures
1.  Debt Stock Reduction
2.  Debt Service Ratios for the 27 Countries that have Reached Decision or Completion Points
3.  Poverty-Reducing Expenditures and External Debt Service in 27 Countries That Have Reached Decision or Completion Points
     
Text Boxes
1.  Box 1. IDA's HIPC Trust Fund
     
Text Tables
1.  HIPC Initiative: Committed Debt Relief and Outlook
2.  HIPCs in the Interim Period: Key Factors Affecting Policy Performance in Countries that Experience Delays in the Implementation of PRGF-Supported Programs
3.  HIPC Initiative: Distribution of Estimated Costs by Main Creditors and Country Groups
4.  Creditors Involved in Litigation Against HIPCs
5.  Change in Debt Ratios from Completion Point Reference Year to end-2003: Decomposition of Contributing Factors
     
Annexes
I.  Country Coverage, Data Sources, and Assumptions for the HIPC Costing Exercise and the Post-Completion Point Debt Ratio Updates
II.  HIPC Initiative: Progress in Implementation by Country
III.  Enhanced HIPC Initiative: Country Implementation Status Notes
IV.  Comparison of Debt Indicators Between HIPCs and Other Developing Countries
     
Appendix Tables
1A.  Summary of Debt Service for 27 Decision Point HIPCs
1B.  Debt Service for Individual HIPCs that Reached Decision Points, by Country, 1999-2006
2A.  Poverty-Reducing Expenditures by the 27 HIPCs that Reached Decision Points
2B.  Poverty-Reducing Expenditures for Individual HIPCs that Reached Decision Points, by Country
3.  HIPC Initiative: Changes in the Estimates of Potential Costs by Creditor Group for 37 HIPCs
4.  HIPC Initiative: Breakdown of Estimated Potential Costs by Main Creditors and by Country Groups
5.  Projected NPV of Debt in Excess of HIPC Threshold Ratios
6.  HIPC Initiative: Estimates of Costs to Multilateral Creditors and Status of Their Commitments
7A.  HIPC Initiative: Status of Delivery of Assistance by the World Bank
7B.  HIPC Initiative: Estimated Delivery of World Bank Assistance, 2000-09
8A.  HIPC Initiative: Status of Commitments by the IMF
8B.  HIPC Initiative: Estimated Delivery of IMF Assistance, 1998-2010
9.  Status of Bilateral Donor Pledges to the HIPC Trust Fund
10A.  HIPC Initiative: Estimated Paris Club Costs, by Creditor Country
10B.  HIPC Initiative: Paris Club Debt Relief
11.  Paris Club Creditors' Delivery of Debt Relief Under Bilateral Initiatives
12A.  HIPC Initiative: Estimated Non-Paris Club Official Bilaterals' Costs, by Creditor Country
12B.  HIPC Initiative: Delivery of Assistance by Non-Paris Club Creditors