As a result of its overall satisfactory macroeconomic performance, progress in reducing poverty, and improvements in public expenditure management, Zambia has qualified for debt relief under the Multilateral Debt Relief Initiative (MDRI). Its sustained, robust growth over the past five years represents a striking turnaround after more than two decades of decreasing per capita income.
million. 63. Debt relief from the AfDF . AfDF would provide MDRI debt relief through a debt stock cancellation of debt disbursed before December 31, 2004, and still outstanding at the completion of the Initiative, after the application of full HIPC assistance. This would reduce what Chad owes to AfDF by US$236.0 million. MDRI debt cancellation from AfDF would save Chad average annual debt service (net of HIPC assistance) of US$6.0 million between 2015 and 2053. 64. Debt relief from the IMF . At the time of the HIPC completion point Chad had repaid all its MDRI