Heavily Indebted Poor Countries (HIPC) Initiative--Status of Implementation, September 12, 2003

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

Heavily Indebted Poor Countries (HIPCs) - Documents

Documents Related to the International Monetary and Financial Committee (IMFC) Meeting
September 21, 2003

Heavily Indebted Poor Countries (HIPC) Initiative—Status of Implementation

Prepared by the Staffs of the IMF and World Bank

September 12, 2003

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Executive Summary

I.	Introduction

II.	Progress in Implementation
	A.	Reduction in Debt Stocks and Debt Service
	B.	Resource Flows to HIPCs
	C.	Implementation and Cost Update

III.	Challenges in Reaching Completion Points and Decision Points
	A.	Challenges in Reaching Completion Points
			Achieving Macroeconomic Stability
			Implementing Poverty Reduction Strategies
			Satisfying Social and Structural Completion Point Triggers
	B.	Challenges in Reaching Decision Points

IV.	Observations on Governance and Debt Sustainability
	A.	Governance
	B.	Debt Sustainability

V.	Creditor Participation
	A.	Multilateral Creditors: Costs, Commitments and Delivery
	B.	Official Bilateral Creditors: Costs, Commitments and Delivery
	C.	Commercial Creditors and Creditor Litigation

VI.	Issues for Discussion

Text Figures
1.	NPV of Debt for the 27 Decision Point Countries
2.	NPV of Debt for the Countries that Reached the Completion Point by mid-2003
3.	Poverty-Reducing Expenditures and External Debt Service in the 27 Decision Point Countries
4.	Gross Flows of Official External Resources to the 27 Decision Point Countries
5.	Net Flows of Official External Resources to the 27 Decision Point Countries

Text Boxes
1.	Some Cases of Interim Period Countries with Current and Extended Interruptions of Policy Track Records
2.	Examples of Structural and Social Completion Point Triggers
3.	World Bank Operations Evaluation Department Review of the HIPC Initiative

Text Tables
1.	Debt Indicators for Developing Countries and HIPCs
2.	HIPCs in the Interim Period: Policy Performance Under PRGF-Supported Programs Since the Decision Point, as of end-July 2003
3.	HIPCs in the Interim Period: Key Factors Affecting Policy Performance in Countries That Have Had Delays in the Implementation of PRGF Programs, as of end-July 2003
4.	HIPCs in the Interim Period: Time Taken from Interim PRSP to Full PRSP
5.	HIPCs in the Interim Period: Some Factors Delaying PRSP Preparation
6.	HIPCs in the Interim Period: Status of Macroeconomic Policies and PRSP Preparation, as of July 2003
7.	Creditors Involved in Litigation against HIPCs

Annexes
1.	Country Coverage, Data Sources, and Assumptions for the HIPC Costing Exercise
2.	HIPC Initiative: Progress in Implementation by Country
3.	Enhanced HIPC Initiative: Country Implementation Status Notes
	I.	Implementation Status of HIPCs in the Interim Period
	II.	Countries that Could Reach the Decision Point After July 2003
	III.	Countries that Had Reached the Completion Point by the End of July 2003

Appendix Tables
1.	Enhanced HIPC Initiative: Committed Debt Relief and Outlook
2.	Summary of Debt Service for the 27 HIPCs that Have Reached the Decision Points
3.	Debt Service by Individual HIPCs that Have Reached the Decision Points—by Country
4.	Summary of Poverty-reducing Expenditures by the 27 HIPCs that Have Reached the Decision Points
5.	Poverty-Reducing Expenditures by Individual HIPCs that Have Reached the Decision Points—by Country
6.	HIPC Initiative: Changes in the Estimates of Potential Costs by Creditor Group
7.	HIPC Initiative: Breakdown of Estimated Potential Costs by Main Creditors and by Country Groups
8.	HIPC Initiative: Estimates of Costs to Multilateral Creditors and Status of Their Commitments
9.	HIPC Initiative: Status of Delivery of Assistance by the World Bank
10.	HIPC Initiative: Estimated Delivery of World Bank Assistance, 2000–09
11.	HIPC Initiative: Status of Commitments by the IMF
12.	HIPC Initiative: Estimated Delivery of IMF Assistance, 1998–2010
13.	Status of Bilateral Donor Pledges to the HIPC Trust Fund
14.	HIPC Initiative: Estimated Paris Club Costs, by Creditor Country
15.	HIPC Initiative: Paris Club Debt Relief
16.	Paris Club Creditors' Delivery of Debt Relief Under Bilateral Initiatives: Beyond the HIPC Initiative
17.	HIPC Initiative: Estimated Non-Paris Club Official Bilateral Creditors' Costs, by Creditor Country
18.	HIPC Initiative: Delivery of Assistance by Non-Paris Club Creditors

Contents