International Monetary Fund. External Relations Dept.
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.
This paper discusses the status of Chad under Enhanced Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). Chad does not qualify for topping-up under the Enhanced HIPC Initiative based on end-2013 debt data. Creditors accounting for more than 87 percent of total HIPC-eligible debt have given satisfactory assurances of their participation in the enhanced HIPC Initiative. Nearly all multilateral creditors and Paris Club creditors have agreed to participate. The authorities are working toward obtaining participation of all the remaining creditors. Upon reaching the completion point under the Enhanced HIPC Initiative, Chad will also qualify for additional debt relief under the MDRI.
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. DebtrelieffromtheIMF . At the time of the HIPC completion point Chad had repaid all its MDRI