The Multilateral Debt Relief Initiative (G-8 Proposal) and Its Implications for the Fund - Further Considerations - Supplemental Information

Policy Papers, November 1, 2005

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Bibliographic details

• Published: November 1, 2005
• Series: Policy Papers
• Stock No: ISBN

Seminar and International Monetary and Financial Committee (IMFC) action

• The Executive Board held an informal seminar on September 21, 2005 to discuss possible implementation modalities for the G-8 debt relief proposal.
• On September 24, 2005, the International Monetary and Financial Committee supported providing 100 percent cancellation of debt owed by HIPCs to the Fund.
• The IMFC considered that 100 percent cancellation would provide significant additional resources for countries’ efforts to reach the Millennium Development Goals and reinforce long-term debt sustainability.

Key findings and implications

• 100 percent cancellation of debt owed by HIPCs to the Fund was endorsed by the IMFC on September 24, 2005.
• The proposed cancellation was assessed as providing significant additional resources to support progress toward the Millennium Development Goals.
• The cancellation was also viewed as reinforcing long-term debt sustainability for HIPCs.

Metadata and access

• Publication date: November 1, 2005
• Format available: PDF (Download PDF indicated on the page)
• Subject tags on the page: Debt relief, Group of Eight, Heavily indebted poor countries, HIPC Initiative

The Multilateral Debt Relief Initiative (G-8 Proposal) and Its Implications for the Fund - Further Considerations - Supplemental Information, November 1, 2005 — International Monetary Fund.