2013年-IMF国际货币组织全球_Heavily_Indebted_Poor_Countries_Initiative_and_Multilateral_Debt_Relief_Initiative_45页_771kb

HIPC Initiative and MDRI Statistical Update Summary

Core Content

This document provides a statistical update on the implementation status of the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI) as of December 2012. It outlines the progress made by HIPCs, the costs of the initiatives, and the participation of creditors in the relief process.

Main Creditor and Country Group Costs

• Total HIPC Initiative Debt Relief Cost (End-2011 PV terms): $76 billion
• Total MDRI Debt Relief Cost (End-2011 PV terms): $36.9 billion

HIPC Initiative: Costs by Main Creditor and Country Group

MDRI: Nominal Costs by Main Creditor and Country Group

Creditor Participation

• Multilateral Creditors: Over 99% of multilateral creditors have committed to participate in the HIPC Initiative, with a total of $6.6 billion contributed to the Debt Relief Trust Fund (DRTF) by end-2012. The DRTF has disbursed about $6.7 billion and accumulated $599 million in investment income.
• Paris Club Creditors: Committed to provide $21.8 billion in debt relief (2011 PV terms) to 36 countries that reached the decision point. Most members have also voluntarily committed to provide additional relief.
• Non-Paris Club Official Bilateral Creditors: Estimated to provide $5.0 billion in debt relief (2011 PV terms), with nearly 50% delivered so far. Only about one-third of the 55 non-Paris Club creditors have participated.
• Commercial Creditors: Committed to provide $4.6 billion in debt relief, with some challenges in securing participation.

Country Status

Post-Completion-Point HIPCs (35)

• Countries: Afghanistan, Benin, Bolivia, Burkina Faso, Burundi, Cameroon, Central African Republic, Comoros, Cote d'Ivoire, Gabon, Ghana, Guinea, Guinea-Bissau, Haiti, Malawi, Mali, Mauritania, Niger, Rwanda, São Tomé and Príncipe, Senegal, Sierra Leone, Somalia, Sudan, Tanzania, Togo, Uganda, Zambia, etc.
• Progress towards MDGs: Varies by country. Some are on track, others are seriously off track, and some have insufficient data.

Interim HIPCs (1)

• Country: Chad
• Status: In the interim phase between decision and completion points. Progress on several triggers, including health, infrastructure, and rural development, has been weak.
• PRSP Status: A PRSP covering 2008–2011 was approved in April 2008. A new PRSP (National Development Plan) covering 2013–2015 was approved in February 2013.
• IMF Program: The last PRGF-supported program expired without review. Discussions on a new SMP have not started due to debt sustainability concerns.

Pre-Decision-Point HIPCs (3)

• Countries: Eritrea, Somalia, Sudan
• Sudan: Made good progress on technical work and has reconciled over 90% of its external debt stock. However, it remains in arrears to the Fund and the World Bank.
• Eritrea: No recent PRSP and no ongoing work towards its preparation. The last Article IV Consultation was in 2009.
• Somalia: No recent PRSP and no ongoing work towards its preparation. No Fund-supported program since 1987.

Key Information

• The HIPC Initiative is nearly completed, with 35 out of 39 eligible countries reaching the completion point.
• The MDRI has been implemented for four multilateral creditors, with a total estimated cost of $36.9 billion.
• Debt relief has significantly reduced debt burdens and allowed HIPCs to increase poverty-reducing expenditures.
• The Debt Relief Trust Fund (DRTF) has been crucial in supporting multilateral creditor participation.
• There are ongoing challenges with commercial and non-Paris Club creditors, with only about one-third of non-Paris Club creditors participating.
• Some countries, like Myanmar, have made progress in clearing arrears and securing support for reform efforts.
• Zimbabwe remains in debt distress and requires a comprehensive arrears clearance framework.
• The IMF and World Bank have continued to use moral suasion and encourage HIPCs to engage creditors for greater participation.