Debt Initiative for the Heavily Indebted Poor Countries (HIPCs)
A Factsheet

Heavily Indebted Poor Countries (HIPCs) - Documents

Spring Meetings 2002: Documents related to the IMFC Meeting

The Enhanced HIPC Initiative and the Achievement of Long-Term External Debt Sustainability

Prepared by the Staffs of the World Bank and the
International Monetary Fund

April 15, 2002

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Contents

Executive Summary
I. Introduction
II.

HIPCs' Recent Economic Performance

  1. Exports and Growth
  2. Fiscal and External Current Account Balances
  3. External Financing
  4. External Debt Indicators
III.

Updated Debt Sustainability Outlook

  1. Post-Completion Point Countries
  2. Countries in the Interim Period
  3. Have Projections been too Optimistic?
IV.

Addressing Adverse Developments Within the HIPC Framework and Beyond

  1. HIPCs' Vulnerability to Exogenous Shocks
  2. The Role of the HIPC Initiative Framework
  3. Scope for Increasing Interim Relief
  4. Additional Relief at the Completion Point
  5. Beyond the HIPC Initiative Framework

    Policy Adjustments in the Face of Adverse    Developments
    Appropriate External Financing Strategies
    Market Access for HIPCs
    Monitoring Debt Sustainability
V. Concluding Remarks

Text Boxes
1. Recent Economic Performance and Prospects in Completion Point Cases: Bolivia, Mozambique, and Tanzania
2. Uganda—External Debt Sustainability Outlook

3.

Impact of HIV/AIDS on Long-Term Debt Sustainability in HIPCs
   

Figures

1.

HIPCs: Main Export Commodity Prices, 1996-2005
2. HIPCs: Key Factors Affecting External Debt Indicators, 2000-05
3. External Debt Indicators: Interim HIPCs vs. Completion Point    HIPCs, 2000-05
4. Completion Point Countries: External Debt Indicators, 2000-05
5. Interim Period HIPCs: External Debt Indicators
   

Text Tables
1. HIPCs: External Environment and GDP and Export Growth,
   2000-01
2. HIPCs: Fiscal and External Current Account Balances and External
   Financing, 2000-01
3. HIPCs: External Debt Indicators, 2000-01
4. Potential Cost of Additional Debt Relief at the Completion Point
 
Appendix Tables
1. HIPCs: Commodity Export Dependence
2. HIPCs: GDP Growth, 2000-10
3. HIPCs: Net Present Value of External Debt, 2000-10
4. HIPCs: External Debt Service, 2000-10
5. HIPCs: Exports, 2000-10
6. HIPCs: Export Growth, 2000-01
7. HIPCs: New Borrowing, 2000-10
8. HIPCs: Net Resource Flows, 2000-10
9. HIPCs: Terms of Trade, 2000-10
10. HIPCs: Terms of Trade Index, 2000-10
11. HIPCs: Updated Overall Fiscal Balance, 2000-10
 
Annex
1. Domestic Debt Issues in HIPCs

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