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PostHIPC Debt Sustainability and Commonwealth HIPCs

image of PostHIPC Debt Sustainability and Commonwealth HIPCs
The debt problem facing poor countries has been at the heart of Commonwealth concerns since the 1980s. The Heavily Indebted Poor Countries (HIPC) Initiative has made important strides in providing comprehensive debt relief to the world’s poorest, most heavily indebted countries, cutting the total external debt of 26 out of the 42 eligible countries by twothirds.



The report presents discussions held at the 2003 Dar es Salaam HIPC Ministerial Forum and calls for a number of actions to deal with both immediate concerns and the issues surrounding longterm debt sustainability in HIPCs.

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Executive Summary

The Heavily Indebted Poor Countries (HIPC) Initiative, especially the Enhanced version launched in 1998, has made important strides in providing comprehensive debt relief to the world's poorest, most heavily indebted countries. So far 26 countries have reached their decision point under the Initiative and are receiving relief amounting to more than $40 billion in nominal terms (approximately $25.7 billion in net present value (NPV) terms). Eight countries - Benin, Bolivia, Burkina Faso, Mali, Mauritania, Mozambique, Tanzania and Uganda - have reached their completion point.

English

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