PP4463-Proposal-for-a-Post-Catastrophe-Debt-Relief-Trust-Fund
Source details
- Canonical URL
- PP4463-Proposal-for-a-Post-Catastrophe-Debt-Relief-Trust-Fund
Other formats
Bibliographic details
- Published: April 22, 2010
- Stock No: ISBN
Summary
- The paper proposes a new trust fund that would enable the IMF to join international debt relief efforts for Haiti and other low-income countries hit by similar catastrophic disasters.
- Following the devastation caused by the recent earthquake in Haiti, an international consensus emerged that creditors should consider full debt relief to support Haiti’s recovery.
- Haiti’s debt to the IMF stands at SDR 178 million.
Policy proposal
- Establish a Post-Catastrophe Debt Relief Trust Fund to allow the IMF to participate in international debt relief initiatives for countries affected by catastrophic disasters.
- Purpose: facilitate coordinated creditor action, including consideration of full debt relief, to support rapid recovery in severely affected low-income countries.
Context and rationale
- Motivated by the recent earthquake in Haiti and the subsequent international consensus on creditor-supported full debt relief as part of recovery efforts.
- Aims to expand the IMF’s role in emergency assistance and debt relief for external shocks affecting low-income countries.
Subject areas (as listed)
- Bilateral aid
- Debt Relief
- Emergency assistance
- Emergency financing mechanism
- External shocks
- Fund facilities
- Low income countries
- Poverty Reduction and Growth Trust
Key facts and publication details
- Publication date: April 22, 2010
- Format available: PDF (Download PDF noted on page)
- The IMF eLibrary offers over 25,000 IMF publications in multiple formats (as referenced on the page).
PP4463-Proposal-for-a-Post-Catastrophe-Debt-Relief-Trust-Fund (April 22, 2010).
Content in this bundle
- Policy Paper