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IMF Financial Activities -- Update March 20, 2014

I.    Introduction
II.   Key IMF Financial Statistics
III.  Forward Commitment Capacity
IV.  Current Financial Arrangements
V.   Status of Commitments of HIPC Assistance
VI.  Status of Multilateral Debt Relief Initiative Assistance

The following tables, which are updated weekly, provide information on the IMF's financial activities. Definitions for the terms contained in the tables are provided below each table. The data are based on the most current information available at the time and are provided for the reader's convenience. The information is not intended to replace other official IMF financial reports and statements.

Key IMF Financial Statistics (Table 1) A summary of financial assistance to members, available resources, arrears, and key IMF rates.

Forward Commitment Capacity (Table 2) A measure of the IMF resources available for new financial commitments.

Current Financial Arrangements (Tables 3a and 3b) Current Stand-By, Extended and Poverty Reduction and Growth (PRG) arrangements. The tables do not include members whose financial arrangements with the IMF have expired, but may have outstanding credit to the IMF. For a list of current arrangements since May 1996 (month-end), see http://www.imf.org/external/np/tre/tad/extarr1.cfm. For a list of all members with outstanding financial obligations to the IMF, see http://www.imf.org/external/np/tre/tad/extcred1.cfm.

Status of Commitments of HIPC Assistance (Table 4) Status of the IMF's commitments to members under the Heavily Indebted Poor Countries Initiative (HIPC).

Status of Multilateral Debt Relief Initiative Assistance (Table 5) Status of the MDRI debt relief to eligible member countries that qualified for the assistance.


Table 1. Key IMF Financial Statistics  
as of March 20, 2014
(In billions of SDRs, and end of period, unless indicated otherwise) 1/  
(For definitions, see below)
 
   
         
  2012 2013 Q1 to date

   
Available Resources          
GRA          
Usable resources 373.1 404.5 405.3    
Uncommitted usable resources 260.3 299.7 301.3    
Forward commitment capacity (FCC) 235.4 269.7 270.8    
           
PRG Trust          
Total loan resources 26.2 26.2 26.2    
Cumulative commitments, net 19.4 19.5 19.5    
Of which: Cumulative disbursements 17.8 18.6 18.6    
Uncommitted loan resources 6.8 6.7 6.7    
           
Financial Assistance          
GRA          
Purchases (during period) 15.0 13.5 1.2    
Of which: financed by Fund bilateral borrowings 3.1 0.4 --    
Of which: financed by NAB borrowings 6.5 7.9 0.9    
Repurchases (during period) 12.2 19.7 3.3    
Credit outstanding 90.0 83.9 81.8    
Outstanding Fund borrowings 43.1 47.5 46.6    
           
PRG Trust          
Disbursements (during period) 0.9 0.8 0.0    
Repayments (during period) 0.5 0.4 0.1    
Credit outstanding 5.8 6.2 6.1    
           
HIPC (SDR millions)          
Number of countries 36 36 36    
Commitments (cumulative) 2,421 2,421 2,421    
Disbursements (cumulative) 2,586 2,586 2,586    
Of which: Interim assistance 746 746 746    
Completion point assistance 1,840 1,840 1,840    
Memo item: Beyond-HIPC assistance 116 116 116    
           
MDRI (SDR millions)          
Number of countries 30 30 30    
Total Debt Relief (cumulative) 3,537 3,537 3,537    
Financed from: MDRI Trusts 2,867 2,867 2,867    
HIPC Umbrella Account 670 670 670    
           
PCDR (SDR millions)          
Number of countries 1 1 1    
Total Debt Relief (cumulative) 178 178 178 2/  
           
Arrears          
GRA 1.1 1.1 1.1    
PRG Trust 0.1 0.1 0.1    
Trust Fund and other 0.1 0.1 0.1    
           
Rates          
US$ per SDR 1.53692 1.54000 1.54409 3/  
SDR interest rate (percent) 0.03 0.13 0.13 3/  
Rate of charge, adjusted (percent) 1.03 1.14 1.13 3/  
Rate of remuneration, adjusted (percent) 0.03 0.12 0.13 3/  

   
         
1/ -- indicates zero value, zero indicates amounts less than SDR 0.05 billion. Totals may not add due to rounding.    
2/ Includes Post-Catastrophe Debt Relief provided to Haiti on July 22, 2010.        
3/ As of the date of this report.      
Key IMF Financial Statistics
 
Term Definition

   
Available Resources  
GRA  
Usable resources Usable resources consist of: (i) the IMF’s holdings of the currencies of members considered by the Executive Board to have a sufficiently strong balance of payments and reserve position for their currencies to be used in the financing of IMF transactions (see Financial Transactions: http://www.imf.org/cgi-shl/create_x.pl?ftp), (ii) holdings of SDRs, and (iii) unused amounts, if any, under credit lines already activated, such as under the General Arrangements to Borrow and New Arrangements to Borrow (GAB/NAB) and resources available under other Fund borrowing agreements and note purchase agreements. Subsequent to the activation of the NAB on April 1, 2011, amounts available under Fund bilateral borrowing and note purchase agreements of NAB participants include only those needed to cover financing of commitments under arrangements approved by the Fund prior to April 1, 2011 based on the current 1:1 bilateral borrowed to quota resources financing ratio for such commitments; undrawn balances under bilateral agreements of other creditors not included in the NAB are available to finance all (both pre- and post-NAB) commitments. Effective April 1, 2013 the board approved termination of any further drawings under these Fund bilateral borrowing and note purchase agreements, which were concluded in 2009/2010 prior to activation of the NAB.
Uncommitted usable
resources
Usable resources less the full amount of undrawn balances under existing Fund arrangements.
Forward commitment capacity A measure of the resources available for new financial commitments, equal to uncommitted usable resources plus repurchases one-year forward less repayments of borrowing due one-year forward and less the prudential balance. As of April 1, 2011, reflects activation of the expanded NAB for the first activation period through end-September 2011 and subsequent six-month activation periods thereafter.
   
PRG Trust Trust administered by the IMF to conduct concessional lending operations through the Loan, Reserve and Subsidy Accounts.
Available loan resources Loan Account resources committed by lenders to the PRG Trust.
Cumulative commitments, net Cumulative commitments to borrowers, net of unused amounts under arrangements which have expired or have been canceled.
Of which: Cumulative disbursements Disbursements to borrowers under PRGT arrangements.
Uncommitted loan resources Available PRGT loan resources less commitments made to eligible member countries.
   
Financial Assistance  
GRA The General Resources Account (GRA) contains IMF holdings of members’ currencies, SDRs, gold, and other assets. These holdings are principally derived from quota subscription payments plus any activated borrowings.
Purchases GRA resources disbursed to members during the period (outflows).
Repurchases GRA resources repaid by members during the period (inflows).
Credit outstanding Total GRA resources disbursed less repayments.
Outstanding Fund borrowings Total GRA borrowings less repayments.
PRG Trust The PRG Trust (PRGT) provides financial support to low-income member countries via concessional loan facilities.
Disbursements PRG Trust resources disbursed to members during the period.
Repayments PRG Trust resources (including outstanding Trust Fund and Structural Adjustment Facility (SAF) loans) repaid by members during the period.
Credit outstanding Total PRG Trust resources disbursed less repayments (including outstanding Trust Fund and Structural Adjustment Facility (SAF) loans).
HIPC Assistance provided to eligible countries under the Heavily Indebted Poor Countries (HIPC) Initiative.
Number of countries Number of countries for which HIPC assistance has been committed.
Commitments Cumulative commitments made to HIPC-eligible members that have reached the decision point under the HIPC Initiative; includes amounts that the IMF has indicated will be committed subject to satisfactory assurances regarding exceptional assistance to be provided by other creditors under the HIPC Initiative.
Disbursements Cumulative grants to members eligible for financial assistance under the HIPC Initiative to be used to help meet debt service payments to the IMF.
Of which:  
Interim assistance Cumulative grants to members between their decision and completion points.
Completion point assistance Final grants to members at their completion points.
MDRI The Multilateral Debt Relief Initiative (MDRI) provides 100% debt relief to eligible member countries that are qualified for the assistance. The debt relief covers the full stock of debt owed to the Fund as of end-2004, and still outstanding at the time the country qualifies for such debt relief.
Number of countries Number of countries which have received MDRI debt relief.
Total Debt Relief  
Financed from  
MDRI Trusts MDRI resources (excluding HIPC debt relief) disbursed to members during the period.
HIPC Umbrella Account HIPC resources used as debt relief under the MDRI during the period.
   
PCDR The Post-Catastrophe Debt Relief (PCDR) Trust provides 100% debt relief to eligible member countries that are qualified for the assistance.
Number of countries Number of countries which have received Post-Catastrophe Debt Relief.
Total Debt Relief  
Financed from the  
PCDR Trust PCDR resources (excluding HIPC debt relief) disbursed to members during the period.
   
Arrears Outstanding  
GRA Total overdue GRA financial obligations.
PRG Total overdue PRGT financial obligations.
Trust Fund and other Total overdue financial obligations to the Trust Fund and Structural Adjustment Facility (SAF). Although the Trust Fund and SAF are no longer operational, arrears to the Trust Fund and SAF consist of overdue repayments, interest, or charges on loans provided under these facilities.
Rates  
US$ per SDR Exchange rate for the SDR in terms of U.S. dollars. The method for valuing the SDR was revised effective January 1, 2011.
  (See: http://www.imf.org/external/np/tre/sdr/basket.htm)
SDR interest rate Interest rate calculated as a weighted average of three month market interest rates on U.S. dollar, euro, Japanese yen and pound sterling assets. The method for valuing the SDR interest rate was revised effective January 7, 2011.
  (See: http://www.imf.org/external/np/tre/tad/sdr_ir.cfm)
Rate of Charge, adjusted The basic rate of charge on GRA loans is equal to the SDR interest rate plus 100 basis points to cover the IMF's cost of financing, additions to reserves, and administrative expenses; and further adjusted by a small margin to compensate for income forgone because of charges in arrears.
Rate of remuneration, adjusted Interest rate paid to members that provide resources to the IMF. Adjusted by a small margin to allow for special additions to reserves and to compensate for income forgone because of charges in arrears.
Investments  
Amount PRG, PRG-HIPC and MDRI Trust resources invested in short-term deposits and medium-term instruments with the Bank for International Settlements (BIS) and bond portfolios managed by the World Bank and private investment managers. Data from the first quarter of 2000 onward also include sight deposits. The SDA contains the profits (sales proceeds minus the value of the gold at the acquisition cost) from sales of the IMF's gold holdings.
Average yield (percent) Weighted average yield on time deposits, two days' notice accounts, demand deposit accounts, and fixed income securities.
Average maturity (months) Weighted average of remaining maturity of resources placed in time deposits and the modified duration of fixed income securities.
Table 2. Forward Commitment Capacity (FCC)            
as of March 20, 2014            
(In billions of SDRs)            
(For definitions, see below)
           
                 
I. Usable resources (a) + (b) 405.3              
(a) Fund quota resources 164.6              
(b) Fund borrowed resources 240.7              
II. Undrawn balances under GRA arrangements 104.1              
III. Uncommitted usable resources ( I - II ) 301.3              
IV. Repurchases one-year forward 17.7              
V. Repayments of borrowed resources one-year forward 8.5              
VI. Prudential balance 39.7              
VII. Forward commitment capacity ( III + IV - V - VI ) 270.8 1/            
(a) Quota resources 108.2 2/ 3/            
(b) NAB resources 162.6 3/            

           
                 
1/ The FCC does not include about US$461 billion in additional bilateral pledges from members to boost IMF resources. These resources will only be counted towards the FCC once: (i) individual bilateral agreements are effective and (ii) the associated resources are available for use by the IMF, as determined by the IMF Executive Board.              
2/ Based on 3:1 NAB to quota resources financing ratio for post-NAB commitments.              
Forward Commitment Capacity (FCC)
 
Term Definition

   
Usable Resources  
Fund quota resources The IMF holdings of SDRs and IMF’s holdings of the currencies of members considered by the Executive Board to have a sufficiently strong balance of payments and reserve position for their currencies to be used in the financing of IMF transactions (see Financial Transactions: http://www.imf.org/cgi-shl/create_x.pl?ftp),
Fund borrowed resources Unused amounts, if any, under credit lines already activated, such as under the General Arrangements to Borrow and New Arrangements to Borrow (GAB/NAB) and resources available under other Fund borrowing agreements and note purchase agreements.
Repurchases one-year forward Repayments by member countries during the coming one-year period. These repurchases add to the supply of the IMF’s usable resources.
Repayments of borrowings
one-year forward
Repayment obligations on Fund borrowing and note placements in the coming one-year period, including drawings and notes reaching final maturity in the next 12 months plus any encashment requests for early repayment to be met over that same period.
Prudential balance Amount set aside to safeguard the liquidity of members’ claims and take account of the potential erosion of the IMF’s resource base. The prudential balance is set at 20 percent of the quotas of members participating in the financing of IMF transactions (Financial Transactions Plan) and any amounts made available under active bilateral borrowing and note purchase agreements. The prudential balance currently does not cover the encashment needs of NAB participants’ outstanding claims under bilateral borrowing agreements that are to be folded into the NAB. Nor does it extend to the claims of participants in the expanded NAB, as such resources are to be provided by setting aside a portion of the total credit arrangements under the NAB. The prudential ratio of 20 percent as decided by the IMF’s Executive Board reflects historical experience and judgments on the indicative level of uncommitted usable resources that the IMF would normally not use to make financial commitments. The prudential balance does not represent a rigid minimum and IMF resources could, on a strictly temporary basis, fall below this level.
Table 3a. Current Financial Arrangements (GRA)
as of March 20, 2014
(In millions of SDRs, unless indicated otherwise) 1/
(For definitions, see below)
 
Member Effective Expiration Amount Undrawn GRA Credit
Date
Date
Agreed
Balance
Outstanding2/
As percent of Quota
             
Stand-by Arrangements  
           
Bosnia and Herzegovina 9/26/12 6/30/15 473 220 405 240    
Georgia 3/ 4/11/12 4/10/14 125 125 173 115    
Jordan 8/3/12 8/2/15 1,364 682 682 400    
Romania 3/ 9/27/13 9/26/15 1,751 1,751 4,296 417    
St. Kitts and Nevis 7/27/11 7/26/14 53 5 48 535    
Tunisia 6/7/13 6/6/15 1,146 718 428 149    
             
6 Arrangements     4,912 3,501 6,032  
             
Extended Arrangements            
             
Albania 2/28/14 2/27/17 295 295 5 8    
Armenia 3/7/14 5/6/17 82 70 215 234    
Cyprus 5/15/13 5/14/16 891 668 223 141    
Greece 3/15/12 3/14/16 23,785 16,574 22,410 2,034    
Jamaica 5/1/13 4/30/17 615 439 491 180    
Pakistan 9/4/13 9/3/16 4,393 3,673 2,068 200    
Portugal 5/20/11 5/19/14 23,742 1,560 22,182 2,154
             
7 Arrangements     53,804 23,280 47,594  
             
Flexible Credit Line            
             
Colombia 3/ 6/24/13 6/23/15 3,870 3,870 -- --
Mexico 3/ 11/30/12 11/29/14 47,292 47,292 -- --    
Poland 3/ 1/18/13 1/17/15 22,000 22,000 -- --    
             
3 Arrangements     73,162 73,162 --  
             
Precautionary and Liquidity Line            
             
Morocco 3/ 8/3/12 8/2/14 4,117 4,117 -- --    
             
1 Arrangement     4,117 4,117 --  
             
Total 17 GRA Arrangements 4/     135,996 104,061 53,626  
Of which NAB eligible commitments   135,996 104,061    
             
Memo item: Members without current arrangements     28,186  
Total credit outstanding         81,812  

             
1/ -- Indicates zero value, zero indicates amounts less than SDR 0.5 million. Totals may not add due to rounding.  
2/ Includes credit outstanding under the member's expired arrangements.      
3/ Treated as precautionary by the authorities upon approval of the program.      
4/ Excluding financing under the Rapid Financing Instrument.        
Table 3b. Current Financial Arrangements (PRGT)
as of March 20, 2014
(In millions of SDRs, unless indicated otherwise) 1/
(For definitions, see below)
             
Member Effective Expiration Amount Undrawn
PRGT Loans
Date
Date
Agreed
Balance
Outstanding2/
As percent of Quota
             
Extended Credit Facility            
           
Afghanistan 11/14/11 11/13/14 85 61 84 52
Bangladesh 4/11/12 4/10/15 640 274 438 82
Benin 6/14/10 4/30/14 74 11 86 139
Burkina Faso 12/27/13 12/26/16 27 25 141 234
Burundi 1/27/12 1/26/15 30 10 91 119
Central African Rep. 6/25/12 6/24/15 42 35 64 115
Cote d'Ivoire 11/4/11 11/3/14 390 81 610 188
Gambia, The 5/25/12 5/24/15 19 8 32 102
Guinea 2/24/12 2/23/15 129 55 74 69
Haiti 7/21/10 8/29/14 41 3 38 46
Kyrgyz Republic 6/20/11 6/19/14 67 10 129 145
Liberia 11/19/12 11/18/15 52 30 64 50
Malawi 7/23/12 11/22/15 104 52 134 193
Mali 12/18/13 12/17/16 30 24 90 96
Niger 3/16/12 3/15/15 79 56 49 74
Sao Tome and Principe 7/20/12 7/19/15 3 1 3 46
Sierra Leone 10/21/13 10/20/16 62 53 83 80
Solomon Islands 12/7/12 12/6/15 1 1 13 124
             
18 Arrangements     1,874 790 2,222  
             
             
             
Standby Credit Facility            
             
Georgia 3/ 4/11/12 4/10/14 125 125 42 28
Tanzania 3/ 7/6/12 4/30/14 149 75 298 150
             
2 Arrangements     274 200 340  
             
Total 20 PRGT Arrangements 4/     2,148 989 2,562  
             
Memo Item : Members without Current Arrangement     3,547  
Total credit outstanding         6,109  

             
1/ -- Indicates zero value, zero indicates amounts less than SDR 0.5 million. Totals may not add due to rounding.  
2/ Includes credit outstanding under the member's expired arrangements.      
3/ Treated as precautionary by the authorities upon approval of the program.      
4/ Excluding financing under the Rapid Credit Facility.        
Current Financial Arrangements (GRA, PRG)
 
Term Definition

Arrangements IMF credit is made available under a variety of borrowing arrangements with different disbursement schedules and maturities depending on the balance of payment needs of the member.
GRA  
Stand-By Arrangements The most common type of credit arrangement designed to provide short-term financial assistance. Purchases under Stand-By Arrangements are repayable in 8 quarterly installments 3¼ - 5 years after disbursement.
Extended Arrangements Extended Arrangements provide credit for a longer period since these arrangements usually require fundamental reforms which may need more time to put in place and take effect. Drawings under extended arrangements are repayable in 12 semiannual installments 4½ - 10 years after disbursement.
Flexible Credit Line The Flexible Credit Line (FCL) has been established to allow members with very strong track records to access IMF resources based on pre-set qualification criteria to deal with all types of balance of payments problems. The FCL could be used both on a precautionary (crisis prevention) and nonprecautionary (crisis resolution) basis. Members may request either a one-year arrangement with no interim reviews, or a two-year arrangement with an interim review of qualification required after twelve months. Upon expiration, the Fund may approve additional FCL arrangements for the member. Access is determined based on individual country financing needs and is not subject to a pre-set cap. Purchases under FCL arrangements are repayable in 8 quarterly installments 3¼ - 5 years after disbursement.
Precautionary and Liquidity Line The Precautionary and Liquidity Line (PLL), which replaces the Precautionary Credit Line (PCL), has been established to meet actual or potential balance of payments needs of members with sound economic fundamentals and institutional policy frameworks but with some remaining vulnerabilities that preclude them from using the FCL. Access under a PLL arrangement varies depending on the duration of the arrangement and member-specific needs. PLL arrangements can have a duration of either six months or one to two years. Under a six-month arrangement, access would not exceed 250 percent of a member’s quota, which could be augmented to a maximum of 500 percent in exceptional circumstances where the member faces a balance of payments need that is of a short-term nature and results from exogenous shocks, including from heightened regional or global economic stress conditions. For one to two year arrangements, the maximum access upon approval is equal to 500 percent of a member’s quota for the first year and up to 1000 percent of quota for the second year (the latter of which could also be brought forward to the first year where needed, following a Board review). One to two year arrangements are subject to Executive Board reviews every six months.
PRG Trust  
ECF Arrangements Concessional arrangements providing credit in support of a three-year macroeconomic and structural adjustment program to eligible low-income members facing protracted balance of payment issues (formerly known as PRGF). The loans are repayable in 10 equal semiannual installments 5½ - 10 years after disbursement.
SCF Arrangements Concessional arrangements ranging from one to two years to provide financial assistance to low-income countries that are experiencing short-term but not protracted balance of payments needs. The loans are repayable in 9 equal semiannual installments 4 - 8 years after disbursement.
  Interest on all PRGT loans (including outright drawings under the RCF) has been waived through end-December 2012.
Arrangement Details IMF financial arrangements are reviewed regularly to assess progress in policy reforms. The disbursement of funds under an arrangement is linked to the achievement of certain financial targets.
Next Scheduled Review Expected date the arrangement will be reviewed by the Executive Board.
Date of Approval Date the arrangement was approved by the Executive Board.
Date of Expiration Arrangements have a specified duration. Commitments are no longer available after the expiration of the arrangement.
Amount Agreed Amount of credit available under an arrangement.
Undrawn Balance Amount of credit available under an arrangement but not yet drawn.
Total Credit Outstanding Total unpaid and outstanding principal due to the IMF under existing and expired arrangements.
Total Credit Outstanding as  
percent of quota Total credit outstanding in terms of member's quota.
Table 4. Status of Commitments of IMF HIPC Assistance
as of March 20, 2014
(In millions of SDRs) 1/
(For definitions, see below)
             
Member
Decision Point
Completion Point
Amount Committed
Amount Disbursed2/
             
Under the Original HIPC Initiative            
Bolivia Sep. 1997 Sep. 1998 21.2   21.2  
Burkina Faso Sep. 1997 Jul. 2000 16.3   16.3  
Côte d'Ivoire Mar. 1998 -- 16.7 3/ --  
Guyana Dec. 1997 May. 1999 25.6   25.6  
Mali Sep. 1998 Sep. 2000 10.8   10.8  
Mozambique Apr. 1998 Jun. 1999 93.2   93.2  
Uganda Apr. 1997 Apr. 1998 51.5   51.5  
Total Original HIPC     235.3   218.6  
             
Under the Enhanced HIPC Initiative          
Afghanistan Jul. 2007 Jan. 2010 -- 4/ --  
Benin Jul. 2000 Mar. 2003 18.4   20.1  
Bolivia Feb. 2000 Jun. 2001 41.1   44.2  
Burkina Faso Jul. 2000 Apr. 2002 27.7   29.7  
Burundi Aug. 2005 Jan. 2009 19.3   22.4  
Cameroon Oct. 2000 Apr. 2006 28.6   33.7  
Central African Republic Sep. 2007 Jun. 2009 17.2   18.1  
Chad May. 2001 Floating 14.3   8.6  
Comoros Jul. 2010 Dec. 2012 2.9   3.0  
Congo, Dem. Rep. of Jul. 2003 Jul. 2010 280.3   330.7  
Congo, Rep. of Mar. 2006 Jan. 2010 5.4   6.3  
Côte d'Ivoire Apr. 2009 Jun. 2012 25.9   26.4  
Ethiopia Nov. 2001 Apr. 2004 45.1   46.7  
Gambia, The Dec. 2000 Dec. 2007 1.8   2.3  
Ghana Feb. 2002 Jul. 2004 90.1   94.3  
Guinea Dec. 2000 Sep. 2012 27.8   35.3  
Guinea-Bissau Dec. 2000 Dec. 2010 9.2   9.4  
Guyana Nov. 2000 Dec. 2003 31.1   34.0  
Haiti Nov. 2006 Jun. 2009 2.1   2.3  
Honduras Jun. 2000 Apr. 2005 22.7   26.4  
Liberia Mar. 2008 Jun. 2010 440.9   451.9 5/
Madagascar Dec. 2000 Oct. 2004 14.7   16.4  
Malawi Dec. 2000 Aug. 2006 33.4   37.2  
Mali Sep. 2000 Mar. 2003 34.7   38.5  
Mauritania Feb. 2000 Jun. 2002 34.8   38.4  
Mozambique Apr. 2000 Sep. 2001 13.7   14.8  
Nicaragua Dec. 2000 Jan. 2004 63.5   71.2  
Niger Dec. 2000 Apr. 2004 31.2   34.0  
Rwanda Dec. 2000 Apr. 2005 46.8   50.6  
Sao Tome and Principe Dec. 2000 Mar. 2007 0.8   0.9  
Senegal Jun. 2000 Apr. 2004 33.8   38.4  
Sierra Leone Mar. 2002 Dec. 2006 100.0   106.6  
Tanzania Apr. 2000 Nov. 2001 89.0   96.4  
Togo Nov. 2008 Dec. 2010 0.2   0.2  
Uganda Feb. 2000 May. 2000 68.1   70.2  
Zambia Dec. 2000 Apr. 2005 468.8   508.3  
Total Enhanced HIPC     2,185.3   2,367.5  
             
Grand Total     2,420.6   2,586.1  

             
1/ -- indicates zero value. Totals may not add due to rounding.          
2/ Includes interest on amounts committed under the Enhanced HIPC Initiative.  
3/ Equivalent to the committed amount of US $22.5 million at decision point exchange rates (3/17/98).  
4/ At the time of its decision point, Afghanistan did not have any outstanding eligible debt.  
5/ Does not include beyond-HIPC assistance of SDR 116.2 million.  
Status of Commitments of HIPC Assistance
 
Term Definition

Decision Point Point at which the IMF decides whether a member qualifies for assistance under the HIPC Initiative (normally at the end of the initial three-year performance period) and decides on the amount of assistance to be committed.
Completion Point Point at which the country receives the bulk of its assistance under the HIPC Initiative, without any further policy conditions. Under the enhanced HIPC Initiative, the timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).
Amount Committed Amount of HIPC assistance determined, in consultation with the World Bank, at the decision point to be made available by the IMF.
Amount Disbursed Resources disbursed to the member to help meet debt service payments to the IMF. Disbursements are normally dependent on receipt of sufficient financing assurances from other creditors.
Table 5. Status of Multilateral Debt Relief Initiative Assistance
as of March 20, 2014
(In millions of SDRs) 1/
(For definitions, see below)
         
Member Delivery Eligible Debt
Date
GRA 2/ PRGT Total

         
Benin 01/06/06 -- 36.1 36.1
Bolivia 01/06/06 89.8 71.2 160.9
Burkina Faso 01/06/06 -- 62.1 62.1
Burundi 02/02/09   26.4 26.4
Cambodia 01/06/06 -- 56.8 56.8
Cameroon 04/28/06 -- 173.3 173.3
Central African Republic 07/02/09 -- 4.0 4.0
Congo, Dem. Rep. of 07/06/10 -- 248.1 248.1
Congo, Rep. of 01/28/10 -- 7.9 7.9
Ethiopia 01/06/06 -- 112.1 112.1
Gambia, The 12/20/07 -- 9.4 9.4
Ghana 01/06/06 -- 265.4 265.4
Guinea-Bissau 12/17/10 -- 0.5 0.5
Guyana 01/06/06 -- 45.1 45.1
Honduras 01/06/06 -- 107.5 107.5
Madagascar 01/06/06 -- 137.3 137.3
Malawi 09/01/06 - 12/19/06 3/ 10.8 27.0 37.9
Mali 01/06/06 -- 75.1 75.1
Mauritania 06/22/06 -- 32.9 32.9
Mozambique 01/06/06 -- 106.6 106.6
Nicaragua 01/06/06 -- 140.5 140.5
Niger 01/06/06 -- 77.6 77.6
Rwanda 01/06/06 -- 52.7 52.7
Sao Tome and Principe 03/19/07 - 12/28/07 4/ -- 1.4 1.4
Senegal 01/06/06 -- 100.3 100.3
Sierra Leone 12/18/06 -- 117.3 117.3
Tajikistan 01/06/06 -- 69.3 69.3
Tanzania 01/06/06 -- 234.0 234.0
Uganda 01/06/06 -- 87.7 87.7
Zambia 01/06/06 -- 402.6 402.6
         
Total   100.6 2,888.1 2,988.7

1/ Excluding HIPC and Beyond-HIPC assistance of SDR 548.5 million provided to Liberia in June 2010.  
2/ -- indicates zero value. Totals may not add due to rounding.      
3/ MDRI assistance to Malawi was delivered in September 2006. Following the receipt of satisfactory financing assurances from other creditors, Malawi received additional MDRI assistance financed from HIPC topping-up assistance in December 2006.
4/ MDRI assistance to São Tomé and Príncipe was delivered in March 2007. Following the receipt of satisfactory financing assurances from other creditors, São Tomé and Príncipe received additional MDRI assistance financed from HIPC topping-up assistance in December 2007.
Status of Multilateral Debt Relief Initiative Assistance
   
Term Definition

Debt Relief Delivery Date The effective date of delivery of MDRI assistance to qualified members.
Eligible Debt  
GRA Assistance that covers credit outstanding under the GRA
PRG Assistance that covers credit outstanding under the PRG Trust