The G-8 Debt Cancellation Proposal and Its Implications for the Fund - Further Considerations

Policy Papers, September 19, 2005

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Canonical URL: The G-8 Debt Cancellation Proposal and Its Implications for the Fund - Further Considerations

The G-8 has proposed that the Fund, the International Development Association, and the African Development Fund cancel 100 percent of their claims on countries having reached, or upon reaching, the completion point under the enhanced Heavily Indebt Poor Country (HIPC) Initiative.
The proposal was initially presented to the G-8 Finance Ministers' Conclusions on Development issued on June 11, 2005, and reaffirmed in the statement on Africa signed by G-8 Heads of State and Government at the Gleneagles Summit on July 8, 2005.
Publication date on the page: September 19, 2005.

Objective: Full cancellation of creditor claims by the Fund, IDA, and ADF for countries that have reached, or will reach, the HIPC completion point.
Intended to complement the enhanced HIPC Initiative by eliminating remaining multilateral claims at the point of completion.

Beneficiaries: Countries that have reached, or upon reaching, the completion point under the enhanced HIPC Initiative.
Scope: Cancellation of 100 percent of claims held by:
- The Fund (IMF)
- The International Development Association (IDA)
- The African Development Fund (ADF)

Initial presentation: G-8 Finance Ministers' Conclusions on Development, June 11, 2005.
Reaffirmation: Statement on Africa by G-8 Heads of State and Government at the Gleneagles Summit, July 8, 2005.

Page format: Web landing page with an associated downloadable PDF link referenced on the page.
Citation example presented on the page: The G-8 Debt Cancellation Proposal and Its Implications for the Fund - Further Considerations, (USA: International Monetary Fund, 0) accessed 9/16/2026.

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