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See Also:
Heavily Indebted Poor
Countries (HIPC)



Nicaragua: Financial Position in the Fund
as of October 31, 2004

Summary of IMF members' quota, reserve tranche position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and historical transactions with the IMF.
I. Membership Status: Joined: March 14, 1946;Article VIII

II. General Resources Account:SDR Million%Quota
       Quota130.00100.00
       IMF's Holdings of Currency (Holdings Rate)130.01100.01
       Reserve Tranche Position0.000.00

III. SDR Department:SDR Million%Allocation
       Net cumulative allocation19.48100.00
       Holdings0.110.55

IV. Outstanding Purchases and Loans:SDR Million%Quota
      ECF Arrangements159.51122.70

V. Latest Financial Commitments:

     Arrangements:

Date ofExpirationAmount ApprovedAmount Drawn
TypeArrangementDate(SDR Million)(SDR Million)
      ECF 1/  Dec 13, 2002  Dec 12, 200597.50    55.72
      ECF 1/  Mar 18, 1998  Mar 17, 2002148.96    115.32
      ECF 1/  Jun 24, 1994  Jun 23, 1997120.12    20.02

 1/ Formerly PRGF.

VI. Overdue Obligations and Projected Payments to Fund  (without HIPC Assistance)2/
   (SDR Million; based on existing use of resources and present holdings of SDRs):
                                       Forthcoming                                      
         2004  2005  2006  2007  2008 
  Principal

19.0323.0623.0624.17
  Charges/Interest
0.481.141.050.930.81
   Total
0.4820.1724.1123.9924.98

2/ When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

    Overdue Obligations and Projected Payments to Fund: (with Board-approved HIPC Assistance)1
    (SDR Million; based on existing use of resources and present holdings of SDRs):

                                      Forthcoming                                      
         2004  2005  2006  2007  2008 
  Principal

3.457.4910.0311.78
  Charges/Interest
0.481.141.050.930.81
   Total
0.484.608.5410.9612.60

VII. Implementation of HIPC Initiative:


Enhanced
 I.   Commitment of HIPC assistance
 Framework
       Decision point date
Dec 2000
       Assistance committed
       by all creditors (US$ Million) 1/
3,308.00
             Of which: IMF assistance (US$ million)
82.20
                    (SDR equivalent in millions)       
63.54
            Completion point date
  Jan 2004

 II.  Disbursement of IMF assistance (SDR Million)
       Assistance disbursed to the member
63.54
             Interim assistance
2.55
             Completion point balance
60.99
       Additional disbursement of interest income 2/
7.62
                  Total disbursements
71.16
1/ Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts can not be added.
2/ Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.

VIII. Implementation of Multilateral Debt Relief Initiative (MDRI):  Not Applicable
IX. Implementation of Post-Catastrophe Debt Relief (PCDR):  Not Applicable

As of February 4, 2015, the Post-Catastrophe Debt Relief Trust has been transformed to the Catastrophe Containment and Relief (CCR) Trust.
_________________
Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
Completion point - point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).

Prepared by Finance Department

Disclaimer
The information provided is for your convenience and is not intended to replace other official IMF reports and statements.