{
  "title": "Press Release: IMF to Extend 100 Percent Debt Relief to Niger Under the Multilateral Debt Relief Initiative",
  "publication": "IMF News, December 23, 2005",
  "sourceUrl": "https://www.imf.org/en/news/articles/2015/09/14/01/49/pr05300",
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  "summary": "The IMF Executive Board has approved debt relief for Niger under the Multilateral Debt Relief Initiative (Press Release No. 05/286 referenced).",
  "publishDate": "2005-12-23",
  "sections": [
    {
      "heading": "Decision and scope",
      "content": "- The IMF Executive Board has approved debt relief for Niger under the Multilateral Debt Relief Initiative (Press Release No. 05/286 referenced).\n- The IMF will provide 100 percent debt relief on all debt incurred by Niger to the IMF before January 1, 2005 that remains outstanding."
    },
    {
      "heading": "Amounts and timing",
      "content": "- Amount of debt relief: approximately US$111 million.\n- Amount excluding remaining assistance under the Heavily Indebted Poor Countries Initiative: US$86 million.\n- Availability: This debt relief should become available in early January as soon as the remaining consents of the contributors to the PRGF Trust Subsidy Account have been received."
    },
    {
      "heading": "Rationale for qualification",
      "content": "- Niger qualified for IMF debt relief because of:\n  - overall satisfactory recent macroeconomic performance,\n  - progress in poverty reduction,\n  - improvements in public expenditure management.\n- Since 2000:\n  - economic growth has strengthened, albeit uneven because of periodic adverse exogenous shocks,\n  - inflation has remained under control.\n- Despite difficult circumstances, including the drought in 2004:\n  - the government has established a good record in implementing its Poverty Reduction Strategy,\n  - this has resulted in improving social indicators, and significant progress in expanding the poor's access to education and clean water,\n  - progress is being made in strengthening public expenditure management systems."
    },
    {
      "heading": "Expected use and objectives",
      "content": "- The international community has made these additional resources available to help Niger make progress toward its Millennium Development Goals (MDGs).\n- The IMF expects resources made available under the Multilateral Debt Relief Initiative to be used effectively given the assurances from Niger's performance in the areas cited.\n- The IMF looks forward to working with Niger to help it develop a strong and stable economy and to make sustained progress toward the MDGs.\n\nPress Release No. 05/300 — December 23, 2005\n\n---\n\n\n References\n\n- Niger and the IMF\n- Press Releases\n- PRESS CENTER\n- Press Release No 05/286\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2015/09/14/01/49/pr05300"
    }
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    "Published: December 23, 2005",
    "The IMF Executive Board has approved debt relief for Niger under the Multilateral Debt Relief Initiative (Press Release No. 05/286 referenced).",
    "The IMF will provide 100 percent debt relief on all debt incurred by Niger to the IMF before January 1, 2005 that remains outstanding.",
    "Amount of debt relief: approximately US$111 million.",
    "Amount excluding remaining assistance under the Heavily Indebted Poor Countries Initiative: US$86 million.",
    "Availability: This debt relief should become available in early January as soon as the remaining consents of the contributors to the PRGF Trust Subsidy Account have been received.",
    "Niger qualified for IMF debt relief because of:",
    "Since 2000:",
    "Despite difficult circumstances, including the drought in 2004:",
    "The international community has made these additional resources available to help Niger make progress toward its Millennium Development Goals (MDGs).",
    "The IMF expects resources made available under the Multilateral Debt Relief Initiative to be used effectively given the assurances from Niger's performance in the areas cited.",
    "The IMF looks forward to working with Niger to help it develop a strong and stable economy and to make sustained progress toward the MDGs.",
    "[Niger and the IMF](http://www.imf.org/external/country/NER/index.htm)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[Press Release No 05/286](https://www.imf.org/external/np/sec/pr/2005/pr05286.htm)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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