Somalia: Enhanced Heavily Indebted Poor Countries (HIPC) Initiative-Decision Point Document
IMF Staff Country Reports, March 26, 2020
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- Somalia: Enhanced Heavily Indebted Poor Countries (HIPC) Initiative-Decision Point Document
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Bibliographic details
- Published: March 26, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513538327.002
Assessment of eligibility for the enhanced HIPC Initiative
- Presents an assessment of Somalia’s eligibility for assistance under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative.
- The Debt Relief Analysis (DRA) was prepared to determine Somalia’s debt burden after application of traditional debt relief mechanisms.
Macroeconomic framework and program context
- The macroeconomic framework reflects the policy framework underlying the proposed three-year Fund-supported program.
- The paper incorporates updated underlying debt data reflecting new information from creditors.
Debt Relief Analysis (DRA) — key finding
- 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.
Debt management capacity and Debt Sustainability Analysis (DSA)
- Includes an assessment of debt management capacity in Somalia.
- Presents a full Debt Sustainability Analysis under the Debt Sustainability Framework for Low-Income Countries.
Reform progress and development partner support
- Despite the challenging environment, progress on reform and policy implementation has been good and sustained reforms have translated into economic results.
- Reforms have been supported by coordinated support from the World Bank and the IMF, and by other development partners.
Subject classifications and keywords (as provided)
- Subjects: Arrears, Asset and liability management, Debt relief, Debt service, External debt, Public debt
- Keywords: Arrears, arrears clearance, burden indicator, CR, debt, Debt relief, Debt service, government, HIPC Completion point, HIPC debt relief analysis, HIPC decision point, IMF in Washington, ISCR, MDRI debt relief from IDA, Somalia
Publication and document metadata (selected)
- Pages: 68
- Volume: 2020
- Issue: 086
- Series: Country Report No. 2020/086
- DOI: https://doi.org/10.5089/9781513538327.002
- Stock No: 1SOMEA2020003
- ISBN: 9781513538327
- ISSN: 1934-7685
International Monetary Fund. Middle East and Central Asia Dept. "Somalia: Enhanced Heavily Indebted Poor Countries (HIPC) Initiative-Decision Point Document", IMF Staff Country Reports 2020, 086 (2020).
Content in this bundle
- 1somea2020003 - Executive Summary