Article

IMF Lending

Author(s):
International Monetary Fund. External Relations Dept.
Published Date:
May 2006
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HIPC debt relief(status as of May 18, 2006)
AmountAmount
IMF memberDecision pointCompletion pointcommitteddisbursed1
(million SDRs)
Heavily Indebted Poor Countries (HIPC) initiative
Under original 1996 initiative
BoliviaSeptember 1997September 199821.221.2
Burkina FasoSeptember 1997July 200016.316.3
Cote d’lvoireMarch 199816.72
GuyanaDecember 1997May 199925.625.6
MaliSeptember 1998September 200010.810.8
MozambiqueApril 1998June 199993.293.2
UgandaApril 1997April 199851.551.5
Total original HIPC235.3218.6
Under the 1999 enhanced HIPC Initiative
BeninJuly 2000March 200318.420.1
BoliviaFebruary 2000June 200141.144.2
Burkina FasoJuly 2000April 200227.729.7
BurundiAugust 2005Floating19.30.1
CameroonOctober 2000April 200628.633.7
ChadMay 2001Floating14.38.6
Congo, Democratic Republic of theJuly 2003Floating228.333.4
Congo, Republic ofMarch 2006Floating5.6
EthiopiaNovember 2001April 200445.146.7
Gambia, TheDecember 2000Floating1.80.1
GhanaFebruary 2002July 200490.194.3
GuineaDecember 2000Floating24.25.2
Guinea-BissauDecember 2000Floating9.20.5
GuyanaNovember 2000December 200331.134.0
HondurasJune 2000April 200522.726.4
MadagascarDecember 2000October 200414.716.4
MalawiDecember 2000Floating23.111.6
MaliSeptember 2000March 200334.738.5
MauritaniaFebruary 2000June 200234.838.4
MozambiqueApril 2000September 200113.714.8
NicaraguaDecember 2000January 200463.571.2
NigerDecember 2000April 200431.234.0
RwandaDecember 2000April 200546.850.6
Sao Tome and PrincipeDecember 2000Floating4
SenegalJune 2000April 200433.838.4
Sierra LeoneMarch 2002Floating98.566.0
TanzaniaApril 2000November 200189.096.4
UgandaFebruary 2000May 200068.170.2
ZambiaDecember 2000April 2005468.8508.3
Total enhanced HIPC1,628.21,401.5
Combined total1,863.51,620.1
DefinitionsDecision point: Point at which the IMF decides whether a member qualifies for assistance under the HIPC Initiative (normally at the end of the initial three-year performance period) and decides on the amount of assistance to be committed.Completion point: Point at which the country receives the bulk of its assistance under the HIPC Initiative, without any further policy conditions. Under the enhanced HIPC Initiative, the timing of the completion point is linked to the implementation of preagreed key structural reforms (that is, floating completion point).

Includes interest on amounts committed under the enhanced HIPC Initiative.

Equivalent to the committed amount of $22.5 million at decision point exchange rates for March 17, 1998.

Amount committed is equivalent to the remaining balance of the total IMF HIPC assistance of SDR 337.9 million, after deducting SDR 109.6 million representing the concessional element associated with the disbursement of a loan under the Poverty Reduction and Growth Facility following the Democratic Republic of the Congo’s clearance of arrears to the IMF on June 12, 2002.

At the time of its decision point, São Tomé and Príncipe did not have any eligible debt to the IMF. Data: IMF Finance Department.

DefinitionsDecision point: Point at which the IMF decides whether a member qualifies for assistance under the HIPC Initiative (normally at the end of the initial three-year performance period) and decides on the amount of assistance to be committed.Completion point: Point at which the country receives the bulk of its assistance under the HIPC Initiative, without any further policy conditions. Under the enhanced HIPC Initiative, the timing of the completion point is linked to the implementation of preagreed key structural reforms (that is, floating completion point).

Includes interest on amounts committed under the enhanced HIPC Initiative.

Equivalent to the committed amount of $22.5 million at decision point exchange rates for March 17, 1998.

Amount committed is equivalent to the remaining balance of the total IMF HIPC assistance of SDR 337.9 million, after deducting SDR 109.6 million representing the concessional element associated with the disbursement of a loan under the Poverty Reduction and Growth Facility following the Democratic Republic of the Congo’s clearance of arrears to the IMF on June 12, 2002.

At the time of its decision point, São Tomé and Príncipe did not have any eligible debt to the IMF. Data: IMF Finance Department.

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