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Business and Economics > Investments: Stocks

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Cover Policy Papers
Initiative for Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)- Status of Implementation
International Monetary Fund
This report provides an update on the status of implementation, impact and costs of the enhanced Heavily Indebted Poor Country (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) since mid-2006. It also discusses the status of creditor participation in both initiatives and the issue of litigation of commercial creditors against HIPCs.
Keywords:
PP; MDRI debt relief; NPV terms; enhanced HIPC Initiative; post-completion-point HIPCs; completion point; IMF staff estimate; long-term debt; post-decision-point HIPCs; MDRI assistance; Debt relief; Debt service; Exports; Stocks; Debt sustainability; Africa; West Africa
Cover IMF Staff Country Reports
Nicaragua: Enhanced Initiative for Heavily Indebted Poor Countries—Completion Point Document
International Monetary Fund
The government has fully complied with all the elements of the fourth floating completion point condition, which calls for the implementation of reforms to develop human capital and social protection. Investment in human capital development represents the second pillar of Nicaragua’s Poverty Reduction Strategy Paper (PRSP). The policy and reform conditions for reaching the completion point were met by end-2003, except for one condition pertaining to the divestiture of the generating units of the power utility, for which a waiver is recommended.
Keywords:
ISCR; CR; Nicaraguan authorities; long-term debt; private sector; enhanced HIPC Initiative; government's strategy; HIPC assistance; HIPC debt relief; NPV terms; organic law; supervisory authority; rate of return; authorities' medium; exports of goods; Debt service; Debt relief; Exports; Stocks; Central America; Caribbean; Global
Cover IMF Working Papers
From Toronto Terms to the HIPC Initiative: A Brief History of Debt Relief for Low-Income Countries
Ms. Christina Daseking
and
Mr. Robert Powell
The low-income country debt crisis had its origins in weak macroeconomic policies, and official creditors’ willingness to take risks unacceptable to private lenders. Payments problems were initially addressed through nonconcessional reschedulings and new lending that maximized financing while containing the budgetary costs for creditors. This led to an unsustainable buildup in debt stocks. More recently, debt ratios have improved, reflecting both adjustment and substantial debt relief. The paper estimates debt relief initiatives since 1988 have cost creditors at least $30 billion, and possibly much more. This compares with the estimated costs of about $27 billion under the enhanced HIPC Initiative.
Keywords:
WP; debt forgiveness; reduction option; cash flow; discount rate; External Debt; HIPCs; Low-Income Countries; Paris LIC Paris Club; debt reduction; present value; PV reduction; Debt relief; Debt reduction; Debt rescheduling; Debt service; Stocks; Global