Heavily Indebted Poor Countries Initiative and Multilateral Debt Relief Initiative - Statistical Update
Policy Papers, December 15, 2014
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Bibliographic details
- Published: December 15, 2014
- Series: Policy Papers
Status of the Initiatives
- 35 countries have already reached the completion point under the HIPC Initiative.
- One country, Chad, remains in the interim phase.
- The HIPC Initiative and MDRI are described as nearly complete.
Impact on recipient countries
- Debt relief under the Initiatives has substantially alleviated debt burdens in recipient countries.
- Enabled recipient countries to increase their poverty-reducing expenditure by two and a half percentage points between 2001 and 2013.
Creditor participation and costs
- Creditor participation has been strong amongst the multilateral and Paris Club creditors.
- Participation from the other creditor groups still needs to be strengthened.
- The total cost of debt relief to creditors under the HIPC Initiative is currently estimated to be US$75.0 billion (end-2013 present value terms).
- The costs to the four multilateral creditors providing relief under the MDRI is estimated to be US$41.1 billion (end-2013 present value terms).
Metadata and subjects
- Publication date listed: December 15, 2014.
- Subjects: Cross country analysis; Debt relief; Government expenditures; HIPC Initiative; Multilateral debt relief initiative; Poverty reduction; Statistical annexes.
Source: Heavily Indebted Poor Countries Initiative and Multilateral Debt Relief Initiative - Statistical Update (IMF web landing page).