Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)—Statistical Update
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- Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)—Statistical Update
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- Published: September 15, 2017
Overview
- Publication date: September 15, 2017.
- Status: The HIPC Initiative and MDRI are described as nearly complete.
- Completion: 36 countries have reached the completion point under the HIPC Initiative.
Impact on recipient countries
- Debt relief under the Initiative has alleviated debt burdens substantially in recipient countries.
- Enabled recipient countries to increase their poverty-reducing expenditure by over one and a half percentage points of GDP between 2001 and 2015.
Creditor participation and costs
- Creditor participation has been strong amongst the multilateral and Paris Club creditors.
- Participation from other creditor groups still needs to be strengthened.
- Total cost of debt relief to creditors under the HIPC Initiative is currently estimated to be US$76.9 billion.
- Costs to the four multilateral creditors providing relief under the MDRI is estimated at US$42.4 billion in end-2015 present value terms.
Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)—Statistical Update, September 15, 2017.
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- Policy Paper