Debt Initiative for the Heavily Indebted Poor Countries (HIPCs)
A Factsheet



Heavily Indebted Poor Countries (HIPC) Initiative: Status of Implementation

Prepared by the Staffs of the World Bank and the
International Monetary Fund

April 20, 2001, Revised May 25, 2001
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Contents

I. Introduction

II. Implementation to Date and Impact of Debt Relief

    A. Reduction in Debt Stocks
    B. Reduced Debt Service Payments
    C. Prospects for Longer-Term Debt Sustainability
    D. Expected Uses of Debt Relief and Social Spending
    E. Completion Point Triggers

III. Update of Costs of HIPC Relief

    A. Sources, Assumptions and Caveats
    B. Projected Costs of HIPC Relief

IV. Status of Creditor Participation

    A. Multilateral Creditors
    B. Paris Club Creditors
    C. Non-Paris Club Official Bilateral and Commercial Creditors

V. Experience with Streamlining Preliminary HIPC Initiative
     Documents

Text Box

1.

Country Coverage, Data Sources, and Assumptions

   

Text Charts

1.

Comparative Debt Reduction and Debt Relief for 22 Decision
    Point Countries

2.

Reduction in Debt Stocks for 22 Decision Point Countries

   

Text Tables

1.

Grouping of HIPCs: Status as of March 2001

2.

Preliminary Estimates of Overall Debt Relief

3.

Debt Indicators in Developing Countries and HIPCs, 1999

4.

Measures of Debt Service Savings, 1998-2003

5.

Average Annual Social Expenditure in 22 HIPCs

6.

HIPC Initiative: Estimates of Potential Costs by Creditor Group

7.

HIPC Initiative: Timeline of Cost Commitments by Main Creditors

   

Appendix Tables

1.

Enhanced HIPC Initiative: Committed Debt Relief and Outlook

2.

Impact of Debt Relief on Countries at the Decision Point

3.

Summary Debt Service for 22 HIPCs that Reached
   Decision Points by End-2000

4.

Debt Service for Individual HIPCs by Country

5.

Social Expenditure by the 22 Countries that Reached Decision
   Points by End-2000

6.

Social Expenditure for Individual HIPCs by Country

7

HIPC Initiative: Estimates of Costs for Other Multilateral Creditors

8.

Estimated HIPC Relief Costs for Individual HIPCs by Creditor
    Group

9.

Estimated Paris Club Costs of HIPC Relief by Creditor Country

10.

Estimated Non-Paris Club Official Bilaterals' Costs of HIPC
   Relief by Creditor Country

11.

Relative Size of HIPC Relief Costs to Official Bilateral Creditors

12.

Estimated Delivery of World Bank Assistance Under the HIPC
   Initiative

13.

Possible Delivery of IMF Assistance Under the Enhanced Initiative

14.

Status of Commitments of HIPC Assistance

15.

Status of Bilateral Donor Pledges to the HIPC Trust Fund (IDA)

16.

HIPC Initiative: Estimated Financing of Other MDBs

17.

Paris Club Creditors' Delivery of Debt Relief Under Bilateral
   Initiatives Beyond the HIPC Initiative

18.

Estimates of Bilateral Pledges for Debt Relief Beyond the HIPC
    Initiative

19.

Rescheduling of HIPCs with Non-Paris Club Official Bilateral
    Creditors

20.

IDA Debt Buybacks: Summary of Completed Operations