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International Monetary Fund. Middle East and Central Asia Dept.
This Enhanced Heavily Indebted Poor Countries (HIPC) Initiative Program’s preliminary document discusses that as per the agreement by the IMF, Somalia can be eligible for debt relief under the Enhanced HIPC Initiative. It provides a clear recognition of Somalia’s sustained commitment to key economic and financial reforms under consecutive staff-monitored programs with the IMF. Helping Somalia achieve debt relief and unlock access to the needed resources to increase growth and reduce poverty is a key priority for the IMF. Once Somalia has reached the Completion Point, it would qualify for unconditional debt relief under the HIPC Initiative, and for debt relief under the Multilateral Debt Relief Initiative (MDRI) from the World Bank's International Development Association and the African Development Fund, together with beyond-HIPC assistance from the IMF. Paris Club creditors are also expected to provide further beyond-HIPC assistance at the Completion Point. With HIPC, MDRI and beyond HIPC assistance, Somalia’s NPV of debt-to-exports ratio is projected to decline from 491.7 percent in 2018 to 57.0 percent in 2027 and 41.5 percent in 2038.
Mr. Thomas William Dorsey
En avril 2009, les conseils d’administration de l’IDA et du FMI ont convenu que la Côte d’Ivoire avait rempli les conditions pour atteindre le point de décision dans le cadre de l’Initiative en faveur des pays pauvres très endettées (PPTE) renforcée. Le montant de l’allègement ayant fait l’objet d’un engagement au point de décision était de 3004,9 milliards de dollars en valeur actualisée (VA) à fin 2007. Ce montant correspondait à une réduction en VA de la dette extérieure admissible à 250 % des recettes à fin 2007, d’où un facteur commun de réduction de 23,6 %.
International Monetary Fund
This paper examines the completion point document for Senegal’s Enhanced Initiative for Heavily Indebted Poor Countries. Senegal could reach the completion point on the basis of a full poverty reduction strategy and sound macroeconomic policies, as well as specific structural and social reforms set out in the decision point document. Major reforms have been advancing in the energy and groundnut sectors and in the postal and pension systems, and institutional improvements in public financial management toward better controls and transparency have been made and are continuing.