Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) Statistical Update July 26, 2019 Prepared by a team led by Boris Gamarra, consisting of Signe Zeikate, Jaime Garron and Vasileios Tsiropoulos under the supervision of Doerte Doemeland (WB), and Sam LaRussa and Joyce Miharu Saito under the supervision of Dalia Hakura and Hans Weisfeld (IMF). Approved by Ceyla Pazarbasioglu (IDA) and Seán Nolan (IMF) 2 CONTENTS Abbreviations and Acronyms __________________________________________________ 4 Executive Summary _________________________________________________________ 6 Introduction _______________________________________________________________ 8 Progress in the Implementation of the HIPC Initiative ______________________________ 9 Debt Service Relief and Poverty Reducing Expenditure ____________________________ 14 Update of the Costs of the Initiatives ___________________________________________ 15 Creditor Participation: Multilateral Creditors ____________________________________ 18 Creditor Participation: Official Bilateral and Commercial Creditors __________________ 18 Figures 1. Poverty-Reducing Expenditure and Debt Service in Post-Decision-Point HIPCs _______ 15 Tables 1. List of Heavily Indebted Poor Countries _______________________________________ 9 2. HIPC Initiative: Costs by Main Creditor and Country Group ______________________ 16 3. MDRI: Nominal Costs by Main Creditor and Country Group ______________________ 17 Annexes I. Country Status under the Enhanced HIPC _____________________________________ 20 II. Country Coverage, Data Sources, and Assumptions for the HIPC Initiative and MDRI Costing Exercise ___________________________________________________________ 24 III. Tables ________________________________________________________________ 26 3 ABBREVIATIONS AND ACRONYMS AfDB African Development Bank AfDF African Development Fund AFRITAC Africa Regional Technical Assistance Centers AMF Arab Monetary Fund AsDB Asian Development Bank BADEA Arab Bank for Economic Development in Africa BCEAO Central Bank of West African States BDEAC Banque de Développement des États de l’Afrique Centrale (Central African States Development Bank) BDEGL Banque de Développement des Etats des Grand Lacs (Development Bank of Great Lakes States) BEAC Banque des Etats de l’Afrique Centrale (Bank of Central African States) BOAD Banque Ouest Africaine de Developpement (West African Development Bank) CABEI Central American Bank for Economic Integration CAF Corporación Andina de Fomento (Andean Development Corporation) CDB Caribbean Development Bank CEMLA Centro de Estudios Monetarios Latinoamericanos (Center for Latin American Monetary Studies) CIRR Commercial Interest Reference Rate CP Completion Point CPF Country Partnership Framework DFID Department for International Development DP Decision Point DRC Democratic Republic of the Congo DSF Debt Sustainability Framework EADB East African Development Bank EBID ECOWAS Bank for Investment and Development ECF Extended Credit Facility EFF Extended Fund Facility EIB European Investment Bank EPCA Emergency Post-Conflict Assistance ESF Exogenous Shocks Facility EU European Union 4 FEGECE Fonds d’Entraide et de Garantie des Emprunts du Conseil de l’Entente (Fund of Aid and of Loans Guarantee of the Agreement Council) FOCEM Fondo Centroamericano de Estabilización Monetaria (Central American Monetary Stabilization Fund) FONPLATA Fondo Financiero para el Desarrollo de la Cuenca del Plata (Fund for the Financial Development of the River Plate Basin) FSID Fonds de Solidarité Islamique pour le Développement (Islamic Fund for Solidarity and Economic Development) GDP Gross Domestic Product HIPC Heavily Indebted Poor Countries IaDB Inter-American Development Bank IBRD International Bank for Reconstruction and Development IDA International Development Association IFAD International Fund for Agricultural Development IFI International Financial Institutions IMF International Monetary Fund I-PRSP Interim Poverty Reduction Strategy Paper IsDB Islamic Development Bank JSAN Joint Staff Advisory Note LICs Low Income Countries MDB Multilateral Development Bank MDGs Millennium Development Goals MDRI Multilateral Debt Relief Initiative NDF Nordic Development Fund MPF Multi Partner Fund OPEC Organization of Petroleum Exporting Countries OFID OPEC Fund for International Development PRGT Poverty Reduction and Growth Trust PRSP Poverty Reduction Strategy Paper PTA Eastern and Southern African Trade and Development Bank PV Present Value SCD Systematic Country Diagnostics SDR Special Drawing Rights SMP Staff Monitored Program WAEMU West African Economic and Monetary Union WAIFEM West African Institute for Financial and Economic Management 5 EXECUTIVE SUMMARY This report reviews developments in the implementation of the Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). It also provides updates on debt service and poverty-reducing expenditure by beneficiary countries, as well as on the cost of debt relief, creditor participation rates, and litigation against HIPCs. The cost of debt relief to creditors under the HIPC Initiative is currently estimated at US$76.2 billion, while the cost to the four multilaterals providing debt relief under the MDRI is estimated at US$43.3 billion (both in end-2017 present value terms). The HIPC initiative and the MDRI have helped reduce excessive debt burdens in 36 post- completion point countries, offering them a fresh start and renewed access to development finance. Poverty-reducing expenditures (7.3 percent of GDP) were almost four times as great as debt-service payments (1.9 percent of GDP) in 2017. Multilateral and Paris Club creditor participation has been strong. Multilateral creditors and the Paris Club provided over ninety-nine percent of their HIPC debt relief to post- completion-point HIPCs. This is more than 85 percent (multilateral 48 percent and Paris Club 37 percent) of total HIPC debt relief costs to post-completion point countries. Most members of the Paris Club have voluntarily committed to provide additional debt relief beyond HIPC. Delivery of debt relief by non-Paris Club official bilateral creditor to HIPCs has increased in recent years, while commercial creditor participation remains a challenge. Around 51 percent of their expected HIPC debt relief has been delivered by non-Paris Club official bilateral creditors. This is an estimated 4 percentage points increase in comparison to the last reporting in 2017. Nonetheless, creditors representing about 43 percent of the total expected debt relief from non-Paris Club creditors either did not provide debt relief or provided less than 40 percent of the expected amount under the HIPC Initiative. Commercial creditor participation in the HIPC Initiative has been weak. Currently, 36 HIPC-eligible countries have reached the completion point, while three countries—Eritrea, Somalia and Sudan—remain in the pre-decision point phase. After more than two decades of hiatus, Somalia is beginning to make meaningful progress towards reaching HIPC Initiative’s decision point. The authorities are working on: (i) establishing a track record of macroeconomic performance under an IMF Staff Monitored Program (SMP); and (ii) preparing the ninth National Development Plan, which is intended to serve as an i-PRSP. The debt reconciliation process and discussions on securing creditor financing assurances for the delivery of HIPC debt relief are underway. Progress in Eritrea and Sudan toward the HIPC decision point has been more limited. 6 Publication of the “Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)—Statistical Update” report in its current form will be discontinued. Updates of statistical tables and on the progress of the remaining HIPC countries in reaching Initiatives’ milestones will be posted on the IMF and the World Bank websites on a biennial basis. 7 INTRODUCTION 1. This report reviews developments in the implementation of the Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI). It also provides updates on debt service and poverty-reducing expenditure by beneficiary countries, as well as the cost of debt relief, creditor participation rates, and litigation against HIPCs. Cost estimates are given in end-2017 present value (PV) terms.1 The following figures and tables are updated: • Trends in poverty-reducing spending and debt service in HIPCs (Annex III Tables AIII1–3) • Costs of the initiatives by creditor and country (Tables 2 and 3 and Annex III Tables AIII4– 14) • Non-Paris Club bilateral creditor participation (Annex III Table AIII15) • Commercial creditor lawsuits against HIPCs (Annex III Table AIII16) 2. Further to the 2011 decision of the Boards of the IMF and the World Bank, the publication of the “Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)—Statistical Update” reports will be discontinued in its current form.2 Updates of statistical tables and a brief description of progress of the remaining HIPC-eligible countries in reaching Initiatives’ milestones will be posted on the IMF (https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/16/11/Debt-Relief-Under-the- Heavily-Indebted-Poor-Countries-Initiative) and the World Bank (http://www.worldbank.org/en/topic/debt-relief) websites at two-year intervals. These updates will cover the information currently provided in the text tables, figures, and the statistical annexes of this report, including: (i) costs of the HIPC and MDRI Initiatives by creditor and country; (ii) creditor participation rates in the HIPC initiative; (iii) commercial creditor lawsuits against HIPCs; (iv) trends in poverty-reducing spending and debt service in HIPCs; and (v) remaining HIPC-eligible countries’ progress through the Initiatives. 1This is an update to the earlier report “Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI)—Statistical Update” August 4, 2017, which provided debt relief cost estimates in end 2015 PV terms. 2SeeBuff/11/152 for a summary of the Executive Board meeting on the November 8, 2011 report on “ Heavily Indebted Poor Countries Initiative and Multilateral Debt Initiative (MDRI)—Status of implementation and Proposals for the Future of the HIPC Initiative.” 8 PROGRESS IN THE IMPLEMENTATION OF THE HIPC INITIATIVE 3. 36 out of 39 countries eligible for the HIPC Initiative have reached the completion point (Table 1). The last country to reach its completion point was Chad, which met that milestone in April 2015. 4. Of the three pre-decision-point countries—Eritrea, Somalia, and Sudan—Somalia is beginning to make meaningful progress towards qualifying for debt relief and reaching the decision point under the Initiative.3 Box 1 elaborates on the process followed for determining the set of pre-decision point countries (i.e., the countries that have been ring-fenced for potential eligibility under the HIPC Initiative). The key steps needed for these countries to reach the decision point are: • Establishing a satisfactory track record of strong policy performance under IMF- and World Bank-supported programs. Qualifying IMF programs include a staff-monitored program (SMP) with Upper Credit Tranche (UCT) conditionality. • Clearing arrears to the IMF, the World Bank, and the African Development Bank AfDB), and clearing or preparing a plan to clear arrears to the remaining external creditors. This would help build support and mobilize financing for debt relief and financing assurances for the required IMF-supported program. • Preparing a satisfactory (full or interim) Poverty Reduction Strategy Paper (PRSP), or similar document, involving civil society participation. • Agreeing on the floating completion point0 triggers with IDA and the IMF. Table 1. List of Heavily Indebted Poor Countries (As of end-December 2018) 1 Countries that have qualified for irrevocable debt relief under the HIPC Initiative and MDRI. 2 Countries that are potentially eligible and may wish to avail themselves of the HIPC Initiative and MDRI . 3Nepal remains potentially eligible but indicated that it does not want to avail itself of assistance under the HIPC Initiative. The potential eligibility of Myanmar could not be assessed in 2006 and 2011 due to lack of data. For further discussion, see Box 1. 9 • Determining whether the country’s debt indicators after traditional debt relief are above the HIPC Initiative thresholds. This assessment should be made using the most recent data for the fiscal year immediately prior to the expected decision point.4 Box 1. Potential Eligibility for HIPC Initiative Debt Relief The HIPC Initiative is a rules-based debt relief framework. From inception, access to debt relief under the Initiative has been bound by strict criteria.1 In this context, the 1996 HIPC Initiative Program of Action included a “sunset clause” aiming at preventing it from becoming a permanent facility, minimizing moral hazard and encouraging the early adoption of reform programs.2 Slower-than-expected pace of implementation led to successive extensions of the “sunset clause.” However, when agreeing to the 2004 extension, the IDA and IMF Boards decided also to ring-fence potential HIPC eligibility to countries meeting the Initiative’s income and indebtedness criteria based on end-2004 data. The HIPC Initiative has been effectively closed to new entrants. Following the 2004 discussions, the IDA and IMF Boards decided to allow the “sunset clause” to take effect at end-2006. At the same time, they endorsed the list of countries ring-fenced for potential HIPC eligibility based on end-2004 data.3 The number of ring-fenced countries was further reduced in 2011, when the Boards decided to add a second data cutoff for the income and indebtedness criteria (end-2010).4 To avoid creating undue pressure on ring- fenced countries, the Boards also decided these countries would be allowed to go through the HIPC Initiative process with no pre-established deadlines provided they meet the qualification criteria for HIPC debt relief. Three countries remain potentially eligible under the HIPC Initiative: Eritrea, Somalia and Sudan.5 The steps needed for them to qualify for HIPC debt relief are detailed in paragraph 3. As per the IDA and IMF Boards’ decisions, additions to this list can be considered only if and when new data were to become available showing that a country met the criteria as of the end-2004 and end-2010 cutoffs. Such addition would require endorsement by both Boards. Two countries were not assessed as part of the 2006 and 2011 ring-fencing exercises: • Myanmar, which could not be assessed because of lack of data but has since cleared its arrears to IFIs and benefited from a Paris Club debt restructuring. As a result, it is now assessed to face a low risk of external debt distress, with debt indicators significantly below the LIC DSF indicative thresholds; and • Zimbabwe, which was not included in the exercises because at the time it was not an IDA-only or PRGT-eligible country. The specifics for Zimbabwe are discussed in detail in paragraph 6. The IDA and IMF Boards can take decisions on the HIPC Initiative framework at any point in time. As in 2006 and 2011, such decisions could address country-eligibility issues. The discussion would be based on options put forward by staff in response to a request by the Boards. __________________ 1See “Modifications to the Heavily Indebted Poor Countries (HIPC) Initiative.” July 23, 1999. 2The Program of Action stated that “the Initiative would be open to all HIPCs that pursue or adopt programs of adjustment and reform supported by the IMF and IDA in the next two years, after which the Initiative would be reviewed, and a decision made whether it should be continued.” See “A Program for Action to Resolve the Debt Problems of the Heavily Indebted Poor Countries—Report of the Managing Director of the IMF and President of the World Bank to the Interim and Development Committees.” September 20, 1996. 3See “Heavily Indebted Poor Countries (HIPC) Initiative—Issues Related to the Sunset Clause,” August 16, 2006. 4See “Heavily Indebted Poor Countries (HIPC) Initiative and Multilateral Debt Relief Initiative (MDRI) —Status of Implementation and Proposals for the Future of the HIPC Initiative.” November 8, 2011. For the IMF, only the end -2004 and end- 2010 indebtedness criterion were binding. 5Refers to countries ring-fenced for potential HIPC eligibility that may wish to avail themselves of debt relief under the Initiative. In addition, Nepal was also found to meet the HIPC Initiative criteria based on end-2004 and end-2010 data. However, as part of the 2006 ring-fencing exercise, the country indicated that it does not want to avail itself of debt relief under the Initiative (see para 32 of November 8, 2011 HIPC Progress Report). 10 5. Over the past year, pre-decision point HIPCs have made uneven progress toward reaching the HIPC Initiative decision point: • Eritrea. Following a ten-year hiatus, an Article IV mission took place in May 2019. The authorities have now resumed discussions with the IMF and the World Bank, including on debt and arrears. However, Eritrea currently has no IMF program that would allow the country to establish the required policy performance track record, a precondition for qualifying for HIPC Initiative and MDRI relief. Arrears to the World Bank totaled US$93.7 million as of December 31, 2018. • Somalia. Emerging from over two decades of conflict, Somalia is laying the foundations for long-term stability and prosperity. The Somali authorities have stated a goal of normalizing the country’s relations with the International Financial Institutions (IFIs), including to unlock concessional financing for development. Creditors have welcomed this goal, and since 2013 the Bank and the Fund have held annual meetings with creditors to track progress. The joint Bank-Fund debt reconciliation process is underway. The Somali authorities are establishing a track record via the successive completion of three SMPs. The third SMP expired at end-April. Discussions on a fourth SMP have been concluded and Management approval is expected in June 2019. The Board will discuss whether SMP IV meets the standard associated with Upper Credit Tranche (UCT) conditionality in July. This would help pave the way for arrears clearance and debt reduction under the HIPC Initiative. Discussion on securing creditor financing assurances for HIPC debt relief are at an early stage: at a roundtable discussion in Washington DC in April 2019, key bilateral creditors, including members of the Paris Club, indicated their broad support for debt relief subject to the other HIPC requirements being met, but as of yet, there have been no specific commitments. The authorities are also working on the ninth National Development Plan, which is intended to serve as an iPRSP, with a view to finalizing it in the Fall of 2019. Both the IMF and the World Bank have been providing extensive technical assistance (TA) and capacity development in their areas of expertise. - The IMF has provided over 100 TA and training missions since 2013 in the context of the SMPs, directed toward public financial management, domestic revenue generation, central bank capacity building and banking supervision, currency reform, financial reporting and financial sector development, creation of macroeconomic statistical data systems, and development of an Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework. In addition, IMF staff has been working with the authorities on collecting basic real, fiscal, monetary, and external sector data and have helped the authorities establish a basic macroeconomic and financial framework. 4 With a three-month grace period—e.g., end-2018 data may be used up to March 2020. 11 In addition to providing support for capacity-building, the World Bank has also been providing financial assistance in the form of pre-arrears clearance grants under the recently approved Country Partnership Framework (CPF): - Through its re-engagement in 2013, the Bank established a Multi Partner Fund (MPF) for Somalia,5 which has helped stabilize key institutions and pilot important initiatives now ready for scale-up under the CPF. o Endorsed by the World Bank Executive Directors in September 2018, the FY19– 22 CPF will help Somalia consolidate its transition by investing in services and economic opportunities while continuing to address the structural drivers of fragility. Based on the May 2018 Systematic Country Diagnostic (SCD) and wide-ranging consultations, the Bank Group will support priorities in two Focus Areas: (i) building institutions to deliver services, and (ii) restoring economic resilience and opportunities. o Based on a February 2018 Technical Briefing to the IDA Board and support from creditors and shareholders at the Spring Meetings, the Bank is providing exceptional support of up to $140 million in IDA Pre-Arrears Clearance Grants during FY19. These grants are provided as a bridging mechanism while the country pursues the requirements for reaching the HIPC decision point and will support four activities: • Core PFM TA to strengthen domestic revenue mobilization and accountability; • Scale-up of the recurrent cost financing available to deliver services in the regions; • Financial sector strengthening and jobs; and • Water for Resilience and Productivity. o The MPF active portfolio as of end-June 2019 consists of 11 projects and 9 analytical and advisory services totaling US$267 million in signed grants, of which US$234 million has been disbursed. These activities are financed by eleven donors who have mobilized over $400 million.6 • Alongside these investment financing projects, the World Bank and IFC are providing technical assistance to the federal and state governments in several areas related to HIPC, including poverty data collection, analysis and monitoring; preparation of a National Development Plan; strengthening public financial management systems, including audit, 5The MPF administered by the WB was established in 2014 to provide a platform for coordinated financing for sustainable reconstruction and development in Somalia. The MPF focuses on areas of urgent need specified in the Somali Compact, and where the World Bank has a comparative advantage. The MPF supports peace-building and state-building goals, i.e. economic foundations, revenue and services, and the cross-cutting priority of institutional capacity development. The four key areas of thematic focus include: (i) core government functions, (ii) infrastructure, (iii) productive sectors, and (iv) urban resilience. 6See “Multi Partner Fund. Progress Report. January–June 2018.” 12 expenditure controls, payroll management, and fiscal reporting systems; improving revenue mobilization in customs and inland taxes; strengthening the business regulatory framework; and developing the regulatory framework for the financial sector (e.g., mobile money regulations and the payments systems, insurance, and the financial institutions laws) Somalia’s arrears to the IMF and World Bank amounted to about US$335 (SDR 241) million and US$341.2 million as of December 31, 2018, respectively. Somalia’s arrears to the AfDB group were about US$106.4 million. • Sudan. Sudan remains in external debt distress according to the joint IMF/WB debt sustainability analysis of 2017.7 Its large external arrears continue to hinder access to external financing and severely limit development progress. Sudan has yet to meet all the requirements for reaching the decision point and qualify for HIPC debt relief. The normalization of relations with external creditors, including multilateral institutions and bilateral creditors, is a key precondition for debt relief. Sudan remains in arrears to the IMF, the World Bank Group, and the AfDB. As of December 31, 2018, arrears to the IMF amounted to SDR 968.4 million (about US$1,346.9 million). Arrears to the World Bank Group amounted to US$962.8 million and to the AfDB SDR 254.4 million (or US$353.8 million). The World Bank continues to provide technical assistance and advisory services to Sudan using Trust Funds. The current portfolio consists of 8 projects totaling US$113 million with a disbursement rate of about 80 percent, with focus on public financial management, social protection, statistics and access to social services. The IMF also provides technical assistance from headquarters and from the IMF’s Middle East Technical Assistance Center (METAC) in addition to continued intensive surveillance and policy advice. 6. Zimbabwe is not currently eligible for debt relief under the HIPC Initiative and MDRI.8 It is also the only country with large protracted arrears to multilateral creditors for which eligibility for debt relief under the HIPC Initiative and MDRI has not been established. Zimbabwe faces unsustainable debt, has large protracted arrears to several multilateral creditors,9 and is in debt distress according to a joint Bank-Fund debt sustainability analysis 7See IMF Country Report No. 17/364, Debt Sustainability Analysis. Available at: http://www.imf.org/en/Publications/CR/Issues/2017/12/11/Sudan-2017-Article-IV-Consultation-Press-Release-Staff-Report- and-Statement-by-the-Executive-45456. 8Zimbabwe was not included in the HIPC ring-fencing exercises because at the time it was not an IDA-only or PRGT-eligible country (see Box 1). As detailed in paragraph 24 of the November 8, 2011 HIPC Initiative Status of Implementation Report, granting Zimbabwe potential HIPC eligibility status will require that the country meet the HIPC Initiative indebtedness criterion based on end-2004 and end-2010 data. It would also require reclassifying Zimbabwe to IDA-only status and a modification or exception from the World Bank to IDA’s eligibility income criterion. 9Arrears to the World Bank, the AfDB and the EIB currently stand at US$1.2 billion, US$0.6 billion, and US$0.3 billion, respectively. Zimbabwe cleared its arrears to the Poverty Reduction and Growth Trust (PRGT) in October 2016, and the IMF’s Executive Board thereafter lifted the “remedial measures” imposed in the wake of arrears accumulation, including by restoring Zimbabwe’s formal eligibility to access PRGT resources. 13 completed in 2017.10 Should Zimbabwe be deemed HIPC-eligible,11 it would qualify for debt relief upon reaching the HIPC Initiative decision point. To reach that milestone, Zimbabwe will need to meet the HIPC Initiative indebtedness criterion based on reconciled loan-by-loan data as of the end of the fiscal year preceding the decision point and follow the same steps as other pre- decision point HIPCs (see paragraph 3). DEBT SERVICE RELIEF AND POVERTY REDUCING EXPENDITURE (Figure 1, Annex I Table AI2 and Annex III Tables AIII1–3) 7. Debt relief under the HIPC and MDRI Initiatives substantially alleviated debt burdens and enabled recipient countries to increase their poverty-reducing expenditures, (Figure 1 and Annex III Table AIII1). 8. However, recent data indicate that debt service burdens are rising, as in non-HIPC low income countries. According to a recent IDA study,12 the median public debt level in HIPCs is similar to the median public debt level in non-HIPCs. However, there remains substantial variation across HIPCs and among non-HIPCs. Changes in the composition of public debt increased debt service costs from 0.7 percent of GDP in 2010 to 1.9 percent in 2017 (unweighted averages), with substantially higher levels in some countries. Several countries accessed international bond markets and/or significantly increased domestic debt. In addition, the share of non-traditional, non-Paris Club, external creditors increased. Access to new sources of financing—if managed well—can help countries achieve their development goals. However, it can lead to higher debt service costs and refinancing risks. 10See IMF Country Report 17/196. 11The2014 indebtedness assessment based on reconciled loan-by-loan debt data as of end-2004 and end-2010 indicates that Zimbabwe met the indebtedness criterion for eligibility under the HIPC Initiative. 12For more discussion see the IDA 2018 Report “Debt Vulnerabilities in IDA Countries” at http://documents.worldbank.org/curated/en/896041540087366658/pdf/debt-vulnerabilities-in-ida-countries-10042018- 636756697620872725.pdf 14 Figure 1. Poverty-Reducing Expenditure and Debt Service in Post-Decision-Point HIPCs (in % of GDP, indexed to 100 at completion point)1 Sources: HIPC documents; World Bank and Fund staff estimates. 1Due to data constraints ‘t’ indicates completion point rather than decision point. As a result, the effect of debt relief may be underestimated since some debt relief may have occurred prior to completion point. For detailed country data and projections, refer to Appendix III Table 2 and 3. UPDATE OF THE COSTS OF THE INITIATIVES 9. The total cost of debt relief to creditors under the HIPC Initiative is estimated at US$76.2 billion in end-2017 present value (PV) terms (Table 2). The increase in debt relief costs in comparison to the previous estimates in end-2015 PV terms are explained by changes in the discount rate and foreign currency exchange rates.13 10. The total cost of the MDRI for the four participating multilateral creditors is estimated at US$43.3 billion in end-2017 PV terms (Table 3, and Annex III Table AIII4). 13See Annex II for assumptions on the discount rate used to calculate the PV of debt relief under the HIPC Initiative and the MDRI. 15 Table 2. HIPC Initiative: Costs by Main Creditor and Country Group (In billions of U.S. dollars, in end-2017 PV terms, unless otherwise indicated) 3 2 1 Post-Completion- Interim HIPCs Total Post-Decision- Pre-Decision-Point Total Point HIPCs Point HIPCs HIPCs (36) (0) (36) (3) (39) (I) (II) (III) = (I) + (II) (IV) (V) = (III) + (IV) Multilateral creditors 28.3 0.0 28.3 5.5 33.8 IDA 13.2 0.0 13.2 1.5 14.7 IMF 4.6 0.0 4.6 1.9 6.5 AfDB Group 5.1 0.0 5.1 0.4 5.5 IaDB 1.6 0.0 1.6 0.0 1.6 Other 3.8 0.0 3.8 1.6 5.3 Bilateral and commercial creditors 30.5 0.0 30.5 12.0 42.4 Paris Club 21.8 0.0 21.8 5.9 27.7 Other Official Bilateral 4.9 0.0 4.9 5.0 9.9 Commercial 3.8 0.0 3.8 1.0 4.8 Total Costs 58.7 0.0 58.7 17.4 76.2 Sources: Country authorities, and World Bank and Fund staff estimates. 16 Table 3. MDRI: Nominal Costs by Main Creditor and Country Group (In billions of U.S. dollars) Assistance in end-2017 Assistance in Nominal Terms 2/ PV Terms Foregone Principal and Principal Total Interest Foregone Interest Post-Completion-Point HIPCs 1/ 43.5 4.8 48.4 43.3 3 IDA 30.0 2.9 32.9 29.3 3 IMF 3/ 3.4 0.0 3.4 3.7 3 AfDF 6.8 0.9 7.7 6.3 3 IaDB 3.3 1.0 4.4 4.0 Interim and Pre-Decision-Point HIPCs 2/ 0.8 0.0 0.9 0.7 2 IDA 0.7 0.0 0.7 0.6 2 IMF 4/ 0.0 0.0 0.0 0.0 2 AfDF 0.2 0.0 0.2 0.2 2 IaDB 0.0 0.0 0.0 0.0 All HIPCs 44.4 4.9 49.2 44.0 IDA 30.7 2.9 33.6 29.9 IMF 3/4/ 3.4 0.0 3.4 3.7 AfDF 7.0 0.9 7.9 6.5 IaDB 3.3 1.0 4.4 4.0 Non-HIPCs 5/ 0.2 0.2 0.2 Sources: Country authorities, and World Bank, IMF, AfDB and IaDB staff estimates. 1Estimates are preliminary and subject to a number of assumptions, including the timing of HIPC decision and completion points, and, where applicable, of arrears clearance. 2These countries have qualified for MDRI relief. Figures are based on actual disbursements and commitments. 3The estimated costs for IMF reflect the stock of debt eligible for MDRI relief, which is the debt outstanding (principal only) as of end-2004 and that has not been repaid by the member and is not covered by HIPC assistance (EBS/05/158, Revision 1, 12/15/2005); including the cost of the MDRI-type beyond-IPC debt relief to Liberia equivalent to US$171.9 million on June 30, 2010, financed from the Liberia Administered Account (LAA). 4 There is no remaining MDRI-eligible debt to the IMF. MDRI Trusts have been liquidated in 2015. The cost to the IMF for providing debt relief to Somalia and Sudan was not included in the original costing estimates; new financing would need to be secured when these members are ready to clear their arrears and embark on the HIPC Initiative and possible beyond-HIPC debt relief. 5IMF MDRI assistance to Cambodia and Tajikistan. 17 CREDITOR PARTICIPATION: MULTILATERAL CREDITORS (see Annex III Tables 5, 6A, 6B, 7A, 7B, 8A, 8B, 9 and 10) 11. Multilateral creditor participation in HIPC Initiative is high. (Annex III, Table 5). Over ninety-nine percent of multilateral creditors, estimated by their share in the total cost of HIPC debt relief to post-completion-point HIPCs, have committed to participate in the HIPC Initiative (Annex III, Table 5).14 Several multilateral creditors received support from the Debt Relief Trust Fund (DRTF), administered by IDA, to fulfill the provision of committed debt relief.15 As of end-August 2018, donors have contributed a total of US$6.9 billion to the DRTF (See Annex III Table 10).16 The DRTF has accumulated investment income amounting to US$608 million and has disbursed about US$7.3 billion. The remaining amount of resources available in the DRTF (US$0.2 billion) is estimated to be sufficient to help finance the expected DRTF support to eligible creditors in respect to remaining pre-decision point HIPCs.17 18 CREDITOR PARTICIPATION: OFFICIAL BILATERAL AND COMMERCIAL CREDITORS (see Annex III Tables AIII11–16) 12. Paris Club creditors have committed to provide debt relief estimated at US$21.8 billion in end-2017 PV terms to the 36 countries that have reached their decision points (Annex III Tables 11 and 12). Most members of the Paris Club have also voluntarily committed to provide additional debt relief beyond that required under the HIPC Initiative (Annex III Tables 12 and 13). 13. The amount of debt relief attributable to non-Paris Club official bilateral creditors is estimated at US$4.9 billion in end-2017 PV terms (Annex III Tables 14 and 15). There has been some increase in the delivery of debt relief under the HIPC Initiative from non-Paris Club bilateral creditors over the past year. For instance, additional debt relief was delivered by the United Arab Emirates (to 81 percent of the total US$131 million expected debt relief in 14Since2012, the World Bank discontinued surveying the delivery of HIPC debt relief by all multilateral creditors. Annual updates correspond to the debt relief provided by the AfDB, the IMF and the WB. 15Eligible creditors include: AfDB, BOAD, CABEI, CDB, CMCF, EADB, FONPLATA, IaDB, IBRD, IFAD, IDA and NDF. 16Annex III Table 10 excludes contributions from AfDB, which are non-cash transactions. 17Excludes pledges from Germany and the United States that total about US$145 million. 18Expected debt relief costs are based on current estimates of completion point dates for pre-decision point HIPCs, their debt outstanding, estimated common reduction factors, as well as assumptions regarding the applicable discount rates. These estimates do not take into consideration possible future additional debt relief to currently eligible HIPCs, additional relief due to potential slippages in completion point dates or other factors (including the possibility of granting of debt relief to additional countries as per Box 1). The amount of DRTF support to an eligible creditor is determined based on the DRTF implementation framework (“Amendments to the HIPC Debt Initiative Trust Fund and change of name to the "Debt Relief Trust Fund"). The actual cost of supporting an eligible creditor under DRTF framework is determined once a HIPC becomes eligible for such support (typically at the HIPC Initiative completion point) and may differ from the estimates presented in this document. 18 present value terms, up from 11 percent reported in 2017) and China (to 85 percent of the total expected debt relief of US$439 million in present value terms, up from 83 percent reported in 2017). The overall delivery of assistance has increased to 51 percent from 47 percent reported in 2017. 14. Securing the participation of non-Paris Club official bilateral and private commercial creditors has been a challenge since the inception of the HIPC Initiative and continues to be so. Non-Paris Club creditors responsible for approximately 17 percent of the Non-Paris Club cost (based on end-2017 PV terms) have yet to participate in the HIPC Initiative. Staffs of the World Bank and the IMF have continued to rely on the use of moral suasion and on the efforts by the HIPCs themselves to increase the participation of these creditors. (Annex III Table 15). Regarding commercial creditor lawsuits against HIPCs, one claim was settled in the case of the Democratic Republic of Congo since the 2017 report (Annex III Table 16). 19 ANNEX I. COUNTRY STATUS UNDER THE ENHANCED HIPC Table AI1. HIPC Pre-Decision Point Countries Eritrea Risk of debt distress In debt distress (12/2009) PRSP status The authorities have developed a National Indicative Development Plan (NIDP 2014-2018). They also have an Agricultural Strategic Plan (2017- 2021) and may be developing a new NIDP for 2019 and beyond. Decision Point date Uncertain. Political context Eritrea became independent in 1991 following a long conflict and remains a fragile state. President Isaias Afwerki has been in power since independence; and his party, the Eritrean People’s Liberation Front, is the single political party. The United Nations imposed sanctions against Eritrea in 2009 for supporting the Somali al Shabab militias. On November 14, 2018 the UN Security Council voted unanimously to lift these sanctions. A 20-year old border conflict with Ethiopia was recently resolved as President Afwerki and Ethiopia’s Prime Minister Abiy Ahmed signed a joint declaration formally ending the state of war between the two countries and re-establishing diplomatic ties, transport and communication. IMF program and There are no ongoing discussions on a Fund-supported program. Following macroeconomic status a ten-year hiatus, the mission for the 2019 Article IV consultation took place in May 2019. There have recently also been several IMF technical assistance missions to Eritrea, particularly through AFRITAC East. World Bank program The authorities have resumed discussions on technical issues, including on debt and the possibility of a development policy operation to clear arrears to IDA. The broader Bank engagement has been described in the recent Eritrea Country Engagement Note, which was discussed by the regional management and is undergoing further revision. The joint WB-IMF team has produced a debt sustainability assessment, which will be discussed at the IMF Board on July 26, 2019. Several high-level senior management meetings, including a visit to Asmara, have taken place since January 2019. 20 Table AI1. HIPC Pre-Decision Point Countries (continued) Somalia Risk of debt distress In debt distress PRSP status The authorities have prepared and adopted a 2017-2019 National Development Plan (NDP). They are also currently preparing a new NDP for 2020-2024, which could be converted into an Interim Poverty Reduction Strategy Paper (IPRSP). Decision Point date Uncertain. Political context Despite challenging political and security conditions, the authorities have made consistent progress on the economic policy and political reforms. Since 2013, two presidential elections have been held, the most recent one in February 2017, and elections in five regions will be held in November 2018 – September 2019. The international community’s support to Somalia remains strong. At the Somalia Partnership Forum, a biannual meeting of Somalia’s development partners, held in Brussels in July 2018, donors reaffirmed their support for Somalia and eventual normalization with IFIs, as well as continued efforts to consistently implement reforms and to fight corruption and increase transparency. Discussion on securing financing assurances for HIPC debt relief have been initiated with a roundtable discussion in Washington DC in April 2019, key bilateral creditors, including members of the Paris Club, indicated their broad support for debt relief subject to the other HIPC requirements being met. The EU is stepping up its support to Somalia with new budget-supported programs estimated at Euro 100 million. IMF program and Although the IMF cannot provide financial assistance to Somalia until it macroeconomic status clears its arrears, the IMF has been providing technical assistance (TA) in its key areas of expertise. In February 2015, the IMF launched a US$9.6 million multi-donor trust fund to support technical assistance and capacity building. IMF TA missions covered the following areas: (i) diagnosis of macroeconomic and institutional conditions; (ii) development of a possible currency reform program; (iii) fiscal policy, governance, generating revenue; (iv) central bank organization and governance, accounting and internal audit, capacity to supervise the banking system, and financial sector development; and, (v) development of statistical systems. Specifically, the IMF has been providing extensive PFM support; budget and payment systems support; tax policy and administration; central bank operations and organization, banking and licensing supervision, and the development of an AML/CFT framework. 21 Table AI1. HIPC Pre-Decision Point Countries (continued) IMF program and Somalia has had three successful Article IV Consultations (July 2015, January macroeconomic 2017, February 2018), and successfully completed three, one-year Staff- Monitored Programs (SMPs). Somalia’s fourth SMP has been approved by status (continued) management and will be presented to the Board in July 2019 for their endorsement as meeting the UCT-conditionality standard. Growth and inflation for 2018 are projected at 2.8 and 3.2 percent, (from 1.4 and 6.1 percent in 2017) respectively as the 2016–17 drought has passed, and the agricultural sector is recovering. Remittances from the diaspora continue to support the construction, telecommunication, and other service sectors. The trade deficit (76 percent of GDP on average in 2015–17) is projected to remain sizable and will be largely financed by remittances and grants. World Bank The World Bank has been having extensive engagement since 2012 under their program Multi-Partner Fund. The general focus of this work has been on strengthening core state functions, socioeconomic recovery and sustainable development. More specifically, projects include improvements in PFM, civil service reform, ICT, core economic institutions, power sector development and analytical and advisory activities (e.g., education, oil sector). In February 2018, the staff provided technical briefing to the IDA Board on Somalia’s engagement. Country Partnership Framework (CPF) was approved in September 2018 for the period of three years (FY19-FY22). The main focus of the CPF is on: • governance: (i) strengthen PFM; (ii) mobilize domestic resources; and (iii) strengthen intergovernmental fiscal arrangements. • Providing opportunities: (i) improved health and education; (ii) municipal services and (iii) financial inclusion. • Strengthening resilience: (i) strengthen natural resource management. The Bank is providing exceptional support of up to US$140 million in IDA Pre-Arrears Clearance Grants during FY19 to further support the WB engagement under the CPF. 22 Table AI1. HIPC Pre-Decision Point Countries (concluded) Sudan Risk of debt distress In debt distress (12/2017) PRSP status The Interim PRSP (IPRSP) was implemented during the period 2012-2015. A joint status report was conducted in 2016 to assess progress made in implementing the IPRSP. As part of the institutional arrangements, two committees were established on December 2017 to oversee the preparation and implementation of a full-fledged PRSP based on the 2014 Household Survey. Decision Point date Uncertain. Political context On April 11, 2019 as a result of a military coup, the government was dissolved. As of July 11 2019, the Transitional Military Council and the civilian-led Forces for Freedom and Change (FFC) had reached an agreement on a transitional government arrangement following mediation by African Union and Ethiopia The U.S. sanctions on trade and financial flows were permanently revoked in October 2017. However, Sudan is yet to be removed from the U.S. list of State Sponsors of Terrorism (SSTL), limiting the country’s access to external resources. IMF program and An IMF mission last visited Sudan during July 2018 to review the country's macroeconomic economic developments and policies and assess the authorities’ capacity and status commitment to carry out a reform program that could be supported by a new staff-monitored program (SMP). Prior to 2014, Fund engagement involved a number of staff monitored programs (SMPs) with Sudan; since 2014, IMF engagement has involved only surveillance and technical assistance. Despite the end to U.S. economic and trade sanctions in2017, most investors have been reluctant to re-engage with Sudan. The Sudanese economy continues to struggle reflecting large fiscal and external imbalances, exacerbated by weak governance and political turmoil. A set of far-reaching comprehensive reforms are needed to correct major macroeconomic imbalances. The loss of most oil revenues and the build-up of large macroeconomic imbalances have hindered progress towards broad-based economic growth and poverty reduction. In the longer run, Sudan needs to adopt and implement a critical mass of structural reforms to develop new comparative advantages and access sophisticated foreign technology and inputs, thereby helping to unlock the country’s economic potential and raise growth prospects. World Bank The World Bank continues to provide technical assistance and advisory program services using Trust Funds. Current portfolio consists of 8 projects of about US$113 million with a disbursement rate of about 80 percent. The main focus of the projects is on strengthening PFM, social protection, statistics and access to social services. 23 ANNEX II. COUNTRY COVERAGE, DATA SOURCES, AND ASSUMPTIONS FOR THE HIPC INITIATIVE AND MDRI COSTING EXERCISE A. Country Coverage • The costing analysis for the 36 post-decision-point countries includes: Afghanistan, Benin, Bolivia, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Côte d’Ivoire, Comoros, Democratic Republic of the Congo, Republic of Congo, Ethiopia, The Gambia, Ghana, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Liberia, Madagascar, Malawi, Mali, Mauritania, Mozambique, Nicaragua, Niger, Rwanda, São Tomé and Príncipe, Senegal, Sierra Leone, Tanzania, Togo, Uganda, and Zambia. • The costing analysis for the pre-decision-point countries is based on 3 HIPCs: Eritrea, Somalia, and Sudan. B. Data Sources • Staff estimates are based on HIPC Initiative decision and completion-point documents for all 36 post-decision-point countries or estimates presented in Heavily Indebted Poor Countries (HIPC Initiative)—List of Ring-Fenced Countries that Meet the Income and Indebtedness Criteria at end-2004 for the 3 pre-decision-point HIPCs. • Data was updated through end-August 2018. C. Assumptions for the HIPC Initiative and MDRI Costing Exercise • Calculations of total costs include costs under the original and enhanced HIPC Initiative frameworks and the MDRI. • Cost estimates for the HIPC Initiative are based on debt data after full use of traditional debt-relief mechanisms. • The following exchange rates have been used for the MDRI calculations: o IDA and AfDF. The initial MDRI Trust Fund replenishment rate of 1.477380 U.S. dollars per SDR was applied for the period FY07-FY08. Cost estimates for FY09- FY11 and FY12-FY14 are based on the IDA15 and IDA16 foreign exchange reference rates of 1.52448 and of 1.50233 U.S. dollars per SDR, respectively. Cost estimates for FY15 – FY17 are based on the IDA 17 replenishment rate of 1.50718 U.S. dollars per SDR. From FY17 onwards -1.42413 U.S. dollars per SDR. o IMF. The exchange rate of the date that debt relief was delivered, and, in cases where debt was not yet delivered, the rate as of end-December 2017 was used. D. Update of Cost Estimates in Present Value Terms • The cost of HIPC Initiative assistance calculated in PV terms at the time of the decision- point is discounted to end-2017 using the average interest rate applicable to the debt relief. 24 This rate was estimated at 1.99 percent and corresponds to the implicit long-term interest rate of currencies that comprise the SDR basket over the period 2015–17, calculated as a 6- month average of the Commercial Interest Reference Rate (CIRR) over this period, weighted by the participation of the currencies in the SDR basket. The same rate was used to calculate MDRI debt relief in end-2017 PV terms. 25 ANNEX III. TABLES Table AIII1. Summary of Debt Service and Poverty Reducing Expenditures 2001–231 (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Debt Service Paid/Due after Enhanced HIPC Initiative and MDRI 2/ 4,333 3,710 4,036 4,492 4,874 4,006 3,254 3,341 3,424 2,889 3,497 4,314 5,193 7,205 8,608 11,185 12,672 15,684 17,891 17,547 18,811 18,964 19,493 Poverty Reducing Expenditures 3/ 6,163 7,397 8,744 10,870 14,850 17,666 22,032 26,490 29,481 31,808 31,757 36,696 36,037 39,659 32,795 35,610 38,226 35,564 35,901 37,219 36,537 39,265 41,040 Average Ratios (in percent) Debt Service/Exports 17.8 15.3 12.8 12.2 10.2 10.6 5.5 4.3 4.1 3.1 3.3 3.6 3.8 4.8 6.1 7.1 7.4 8.1 8.3 7.9 7.9 7.5 7.6 Debt Service/GDP 2.9 2.5 2.2 2.2 2.1 1.9 1.1 0.9 1.0 0.7 0.8 0.9 1.0 1.2 1.5 1.8 1.9 2.2 2.2 2.1 2.1 2.0 2.1 Poverty-Reducing Expenditure/Government Revenue 3/ 46.3 46.5 46.4 44.7 44.8 46.5 45.8 50.6 55.4 48.3 46.0 45.8 39.8 43.9 46.1 46.3 45.6 43.4 43.5 42.9 38.7 38.6 42.1 Poverty-Reducing Expenditure/GDP 3/ 5.9 6.3 6.6 6.7 7.0 7.1 7.5 7.6 8.3 7.6 7.3 7.7 7.0 7.4 7.4 7.5 7.4 7.0 7.1 7.2 7.1 7.2 8.1 Sources: HIPC country documents, and World Bank and IMF staff estimates. 1Data refer to 36 post-decision-point HIPCs, unless specified otherwise. 2Debt service paid covers 2001-2017, and debt service due covers 2018-2023. For post-completion point HIPCs, debt service due reflects the negotiated relief by the debtor countries, additional debt relief provided by some Paris Club Creditors on a voluntary basis, and MDRI (countries that have reached the completion point in the more recent years, debt service projections assume full HIPC Initiative debt relief along with additional debt relief by the Paris Club and MDRI). See Appendix Table 2 for a detailed breakdown. 3As defined in PRSPs; excludes data for years in countries for which data is not available. See Table 3 for a country breakdown. 26 Table AIII2. Debt Service of 36 Post-Decision-Point HIPCs, 2001–23 1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Post-Completion-Point HIPCs (36) Afghanistan 2/ Due after enhanced HIPC Initiative and MDRI relief 1/ - - 31.7 5.2 18.7 6.9 5.4 9.8 3.1 10.2 5.7 10.6 29.1 77.6 44.1 44.5 51.1 46.8 41.2 39.6 39.8 48.3 50.5 In percent of export - - 3.2 0.5 1.2 0.4 0.3 0.6 0.1 0.4 0.2 0.5 2.1 3.9 3.1 3.9 4.2 3.5 3.0 2.6 2.4 2.6 2.5 In percent of GDP - - 0.7 0.1 0.3 0.1 0.1 0.1 0.0 0.1 0.0 0.1 0.1 0.4 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.2 0.2 Benin 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 57.1 62.6 66.7 58.4 38.3 63.0 88.1 29.5 37.6 48.3 54.8 70.5 77.1 79.0 79.3 64.1 87.1 84.9 121.4 137.1 139.8 158.1 159.6 In percent of export 15.2 16.1 13.7 10.2 7.0 10.1 9.4 2.5 3.7 3.9 4.4 6.5 5.4 5.1 5.4 4.5 4.8 3.8 4.6 4.6 4.2 4.3 3.9 In percent of GDP 2.1 2.0 1.7 1.3 0.8 1.2 1.5 0.4 0.5 0.7 0.7 0.9 0.8 0.8 1.0 0.7 0.9 0.8 1.1 1.1 1.1 1.1 1.0 Bolivia 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 249.3 258.3 272.8 287.0 367.6 325.3 328.3 260.7 222.8 301.9 231.8 505.7 285.7 367.2 526.3 462.1 664.4 524.0 603.5 683.8 790.2 812.5 849.7 In percent of export 16.4 16.6 13.9 11.1 11.1 7.3 6.6 3.7 4.1 4.2 2.5 4.1 2.2 2.6 5.3 5.6 7.0 5.0 5.7 6.1 6.5 6.2 6.1 In percent of GDP 3.1 3.3 3.4 3.3 3.8 2.9 2.6 1.6 1.3 1.6 1.0 1.9 1.0 1.1 1.6 1.4 1.8 1.3 1.4 1.5 1.6 1.5 1.4 Burkina Faso 3/ - Due after enhanced HIPC Initiative and MDRI relief 1/ 35.1 33.5 48.9 45.7 44.5 41.3 45.9 46.4 51.1 52.4 62.8 79.2 89.7 99.3 108.8 116.8 136.5 168.2 195.4 173.8 191.1 196.4 210.5 In percent of export 14.8 12.4 14.5 8.3 8.3 6.2 6.4 5.6 4.6 2.8 2.5 3.0 2.8 3.1 3.9 3.6 3.9 4.3 4.7 4.0 4.2 4.2 4.4 In percent of GDP 1.2 1.0 1.2 0.9 0.8 0.7 0.7 0.6 0.6 0.6 0.6 0.7 0.8 0.8 1.0 1.1 1.1 1.2 1.3 1.0 1.1 1.0 1.0 Burundi Due after enhanced HIPC Initiative and MDRI relief 1/ 14.2 28.5 23.6 57.0 23.6 10.9 5.7 3.4 1.7 2.7 5.2 15.8 24.7 22.6 35.5 42.2 40.2 42.1 44.8 41.6 38.9 38.9 38.9 In percent of export 31.4 73.6 47.2 89.6 25.7 11.7 5.8 2.2 1.4 1.5 2.3 7.2 10.9 10.7 18.3 17.9 16.5 16.7 16.6 14.6 12.6 12.8 12.9 In percent of GDP 1.7 4.0 3.0 6.3 1.9 0.8 0.4 0.2 0.1 0.1 0.2 0.7 1.0 0.8 1.3 1.8 1.8 1.9 2.0 1.8 1.7 1.6 1.5 Cameroon 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 260.9 240.4 284.8 259.1 406.2 462.3 224.8 252.7 216.5 174.3 188.0 198.7 217.9 255.0 226.6 411.1 465.7 651.0 869.1 978.0 1,045.8 1,034.3 1,268.3 In percent of export 9.2 8.1 9.1 6.8 9.6 9.5 3.6 3.4 4.1 3.1 2.5 2.7 2.7 3.0 3.4 6.6 7.1 8.9 12.2 13.2 14.2 13.8 16.2 In percent of GDP 2.5 2.1 2.0 1.5 2.3 2.4 1.0 1.0 0.8 0.7 0.6 0.7 0.7 0.7 0.7 1.3 1.3 1.7 2.2 2.4 2.4 2.2 2.5 Central African Republic Due after enhanced HIPC Initiative and MDRI relief 1/ 31.9 44.5 47.1 47.3 27.7 40.9 36.4 43.7 23.4 10.7 11.0 24.7 19.8 16.7 17.5 19.8 6.0 14.1 14.5 15.1 14.9 15.2 10.8 In percent of export 20.0 27.6 30.6 27.1 16.1 19.6 15.2 20.0 11.1 4.6 3.7 8.5 7.8 5.3 6.1 6.0 1.8 3.8 3.7 3.6 3.3 3.2 2.2 In percent of GDP 3.6 4.6 4.2 3.8 2.1 2.8 2.1 2.2 1.2 0.5 0.5 1.1 1.3 1.0 1.1 1.1 0.3 0.6 0.6 0.6 0.5 0.5 0.3 Chad Due after enhanced HIPC Initiative and MDRI relief 1/ 19.9 36.4 53.3 45.7 57.3 70.5 56.5 156.7 65.3 62.1 109.2 152.6 171.4 687.6 276.8 335.7 240.3 252.4 147.3 243.3 279.8 336.3 369.3 In percent of export 7.9 14.4 8.0 2.0 1.8 2.0 1.5 3.5 2.0 1.5 2.2 3.2 3.9 15.6 9.5 13.6 8.8 7.0 4.3 6.1 6.4 6.9 7.1 In percent of GDP 0.7 1.1 1.4 0.8 0.9 0.9 0.7 1.5 0.7 0.6 0.9 1.2 1.3 4.9 2.5 3.3 2.4 2.3 1.3 1.9 2.1 2.3 2.3 Comoros Due after enhanced HIPC Initiative and MDRI relief 1/ 2.5 2.4 2.6 4.4 4.1 3.6 9.5 3.7 8.2 9.7 10.0 9.2 2.1 1.8 2.0 3.3 3.2 11.5 7.7 7.7 7.5 7.5 7.2 In percent of export 7.2 6.0 4.6 8.0 7.5 5.9 13.3 4.8 11.1 11.3 9.9 10.4 2.0 1.5 2.1 3.0 2.5 8.4 5.7 5.4 4.9 4.6 4.2 In percent of GDP 1.1 0.9 0.8 1.2 1.1 0.9 2.0 0.7 1.5 1.8 1.6 1.5 0.3 0.3 0.3 0.5 0.5 1.6 1.0 1.0 0.9 0.9 0.8 Congo, Democratic Republic of Due after enhanced HIPC Initiative and MDRI relief 1/ 805.6 26.2 363.8 175.4 373.0 213.1 170.7 254.4 187.9 177.0 160.0 181.7 194.6 189.0 223.7 245.4 212.3 224.0 421.5 452.2 449.9 405.1 403.5 In percent of export 83.9 2.2 24.0 8.7 15.4 7.1 2.6 3.6 3.8 2.0 1.5 1.8 1.8 1.6 2.1 2.0 1.8 1.4 3.3 3.4 3.3 2.7 2.6 In percent of GDP 9.9 0.3 4.1 1.7 3.1 1.5 1.0 1.3 1.0 0.9 0.7 0.7 0.6 0.5 0.6 0.7 0.6 0.5 0.9 0.9 0.8 0.7 0.7 27 Table AIII2. Debt Service of 36 Post-Decision-Point HIPCs, 2001–23 (continued) 1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Congo, Republic of Due after enhanced HIPC Initiative and MDRI relief 1/ 183.6 230.6 158.4 222.7 607.8 563.5 389.2 217.7 539.1 145.3 139.3 121.7 288.5 496.1 496.2 604.4 585.7 1,115.8 1,121.0 996.7 828.1 792.7 676.7 In percent of export 8.3 9.3 5.2 6.5 11.8 8.3 5.9 2.5 8.3 1.6 1.2 1.2 3.0 5.2 9.8 13.1 8.0 11.2 12.6 11.4 10.4 10.3 9.0 In percent of GDP 6.6 7.6 4.5 4.8 10.0 7.3 4.6 1.8 5.6 1.2 0.9 0.9 2.1 3.5 5.8 7.8 6.5 9.9 10.9 9.6 8.4 8.0 6.8 Cote d'Ivoire Due after enhanced HIPC Initiative and MDRI relief 1/ - 1.9 274.0 189.3 117.8 71.9 240.4 317.3 293.2 287.9 114.4 255.0 492.6 654.5 695.9 810.5 957.5 1,078.4 1,256.0 1,392.6 1,268.7 1,407.4 1,457.4 In percent of export - 0.0 4.3 2.5 1.4 0.8 2.5 2.8 2.4 2.3 0.8 1.9 3.8 4.7 5.6 6.9 7.5 8.4 9.2 9.3 7.8 7.9 7.4 In percent of GDP - 0.0 1.6 1.0 0.7 0.4 1.1 1.4 1.2 1.1 0.5 0.9 1.5 2.0 2.1 2.4 2.4 2.5 2.8 2.8 2.4 2.4 2.3 Ethiopia 2/ Due after enhanced HIPC Initiative and MDRI relief 1/ 572.3 521.1 191.3 160.0 165.6 92.8 81.1 85.7 75.2 127.1 229.5 393.3 502.2 674.9 1,060.2 1,380.2 1,519.3 1,577.8 2,184.4 2,292.3 2,276.9 2,283.6 1,897.5 In percent of export 58.5 53.0 16.8 10.7 8.9 4.4 3.3 2.8 2.2 3.1 4.3 6.6 8.5 10.5 16.9 22.8 24.4 22.4 27.5 25.6 22.6 19.9 14.5 In percent of GDP 7.0 6.6 2.2 1.6 1.3 0.6 0.4 0.3 0.2 0.4 0.7 0.9 1.1 1.2 1.6 1.9 1.9 1.9 2.4 2.3 2.1 1.9 1.5 The Gambia 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 20.8 34.3 16.8 15.6 24.4 25.3 26.5 20.9 19.3 19.9 21.5 24.1 23.4 34.7 32.4 24.8 40.7 52.8 50.0 49.7 49.3 49.8 56.1 In percent of export 12.8 20.1 10.1 7.9 11.9 11.4 11.5 9.2 8.4 8.8 9.0 8.6 8.9 14.2 14.7 10.3 12.0 14.8 13.0 11.7 10.7 10.0 10.4 In percent of GDP 2.0 3.7 1.9 1.6 2.3 2.4 2.1 1.3 1.3 1.2 1.5 1.7 1.7 2.8 2.4 1.7 2.7 3.3 2.9 2.7 2.5 2.4 2.5 Ghana Due after enhanced HIPC Initiative and MDRI relief 1/ 463.9 446.1 442.0 532.4 573.6 601.6 225.9 358.5 316.1 370.5 462.7 632.7 732.9 1,025.2 1,492.8 2,227.7 2,388.7 3,294.5 3,715.9 2,713.3 2,946.6 2,782.6 2,983.8 In percent of export 19.3 17.1 13.8 15.6 14.7 12.2 3.8 5.1 4.2 3.9 3.2 3.8 4.5 6.7 9.0 12.8 11.7 15.8 17.1 11.7 11.8 10.8 10.9 In percent of GDP 3.8 3.1 2.5 2.6 2.3 2.1 0.7 0.9 0.9 0.9 0.9 1.1 1.2 1.9 3.1 4.1 4.1 5.1 5.3 3.6 3.6 3.2 3.1 Guinea 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 109.0 113.9 109.6 98.1 124.5 129.3 210.9 198.2 80.2 55.4 127.8 147.8 55.3 65.5 103.0 78.1 60.6 114.4 117.5 161.2 201.2 224.6 227.8 In percent of export 12.1 13.2 12.3 10.9 12.3 11.1 17.4 12.6 6.2 3.6 8.3 7.2 2.9 3.3 5.5 3.2 1.5 2.6 2.6 3.2 3.7 4.0 3.9 In percent of GDP 2.9 2.8 2.3 1.9 2.8 3.1 3.3 2.8 1.2 0.8 2.1 2.0 0.7 0.7 1.2 0.9 0.6 1.0 0.9 1.2 1.4 1.4 1.3 Guinea-Bissau 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 1.4 2.6 5.7 6.2 4.2 5.1 5.6 4.1 11.3 3.8 3.4 1.8 0.2 4.1 3.8 5.8 52.1 6.7 7.9 9.5 9.7 10.3 12.3 In percent of export 2.0 4.1 7.6 7.5 4.4 6.7 4.0 2.4 7.2 3.0 1.2 1.2 0.1 1.9 1.3 1.9 14.7 2.0 2.1 2.3 2.1 2.2 2.4 In percent of GDP 0.4 0.6 1.1 1.1 0.7 0.8 0.8 0.5 1.3 0.5 0.3 0.2 0.0 0.4 0.4 0.5 3.7 0.5 0.5 0.6 0.5 0.5 0.6 Guyana 2/ 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 58.8 60.2 59.8 56.1 45.0 27.6 19.0 20.5 17.5 28.7 40.0 42.5 45.9 51.0 98.4 53.7 60.8 74.6 73.0 71.5 72.7 70.0 67.3 In percent of export 8.9 9.0 8.9 7.5 6.4 3.8 2.1 2.0 1.7 2.5 2.8 2.5 3.0 3.5 7.0 3.3 3.8 4.5 4.1 2.3 1.7 1.4 0.9 In percent of GDP 5.2 5.2 5.0 4.5 3.4 1.9 1.1 1.1 0.9 1.3 1.5 1.5 1.5 1.7 3.1 1.5 1.7 2.1 1.9 1.6 1.3 1.2 0.9 Haiti 2/ Due after enhanced HIPC Initiative and MDRI relief 1/ 36.6 50.1 81.9 55.7 108.7 56.6 98.8 68.5 36.1 16.3 5.2 9.6 25.7 39.1 30.5 75.9 118.7 133.1 141.2 151.0 158.1 169.4 - In percent of export 8.3 11.4 17.4 10.9 18.0 8.1 12.7 7.5 3.5 1.6 0.4 0.7 1.6 2.3 1.7 4.7 7.5 8.1 8.4 8.8 9.0 9.3 - In percent of GDP 1.0 1.4 2.8 1.6 2.5 1.2 1.7 1.0 0.5 0.2 0.1 0.1 0.3 0.4 0.4 0.9 1.4 1.4 1.4 1.5 1.5 1.5 - Honduras 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 189.6 224.6 232.6 329.7 365.0 134.4 201.1 122.2 323.7 110.2 173.1 134.2 142.1 179.0 333.4 388.7 507.9 476.8 984.1 503.2 1,022.7 710.4 717.0 In percent of export 4.8 5.2 5.4 6.4 6.4 2.2 3.1 1.7 5.6 1.5 1.9 1.4 1.6 1.9 3.5 4.2 5.1 4.7 9.4 4.5 8.7 5.8 5.7 In percent of GDP 2.5 2.9 2.9 3.8 3.8 1.2 1.6 0.9 2.2 0.7 1.0 0.7 0.8 0.9 1.6 1.8 2.2 2.0 3.9 1.9 3.8 2.5 2.4 Liberia 2/ Due after enhanced HIPC Initiative and MDRI relief 1/ 0.6 - - 0.6 0.6 1.2 0.2 0.7 0.5 2.2 5.8 13.4 7.3 3.7 11.1 5.3 9.9 20.8 24.1 33.2 43.2 48.1 50.0 In percent of export 0.3 - - 0.2 0.2 0.2 0.0 0.1 0.1 0.3 0.7 1.2 0.6 0.4 1.4 0.7 1.3 2.9 3.3 4.3 5.2 5.5 5.5 In percent of GDP 0.1 - - 0.1 0.1 0.1 0.0 0.0 0.0 0.1 0.2 0.5 0.2 0.1 0.3 0.2 0.3 0.7 0.8 1.1 1.3 1.3 1.3 28 Table AIII2. Debt Service of 36 Post-Decision-Point HIPCs, 2001–23 (continued) 1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Madagascar 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 42.2 47.0 56.6 77.2 66.6 51.7 22.1 27.8 55.0 42.6 55.0 57.1 57.5 89.2 74.4 102.0 125.9 95.5 95.4 118.2 159.6 190.1 - In percent of export 3.2 6.6 4.6 5.4 4.9 3.1 1.0 1.1 2.9 2.0 2.1 2.0 1.8 2.5 2.4 3.0 3.5 2.5 2.3 2.6 3.3 3.6 - In percent of GDP 0.9 1.1 1.0 1.8 1.3 0.9 0.3 0.3 0.6 0.5 0.6 0.6 0.5 0.8 0.8 1.0 1.1 0.8 0.7 0.8 1.0 1.1 - Malawi 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 101.5 87.3 105.9 117.4 123.3 88.1 16.0 12.7 12.8 17.2 29.4 24.8 78.7 72.2 92.1 178.7 72.5 133.6 88.5 97.3 112.3 129.2 130.8 In percent of export 21.6 18.8 22.4 21.7 22.1 14.6 1.8 1.2 1.2 1.3 2.1 1.7 4.7 4.1 5.6 11.1 4.3 7.2 4.5 4.6 5.0 5.4 5.1 In percent of GDP 3.4 2.5 3.3 3.4 3.4 2.2 0.4 0.2 0.2 0.2 0.4 0.4 1.4 1.2 1.4 3.3 1.2 2.0 1.2 1.3 1.4 1.5 1.4 Mali 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 69.4 93.1 104.1 110.5 106.2 121.3 100.6 88.1 109.5 108.0 163.8 144.7 157.3 176.2 237.8 184.1 259.8 301.3 358.7 355.6 390.7 422.5 428.4 In percent of export 8.2 8.1 8.4 8.5 8.3 6.3 4.8 3.7 4.9 4.4 6.2 4.2 4.6 5.9 7.7 5.9 7.0 7.7 9.1 9.0 9.7 10.2 10.0 In percent of GDP 2.0 2.2 2.0 1.9 1.8 1.7 1.2 1.0 1.0 1.0 1.3 1.1 1.2 1.3 1.9 1.4 1.6 1.8 2.0 1.8 1.8 1.8 1.7 Mauritania 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 15.3 10.4 20.9 25.0 30.5 116.8 32.8 94.8 51.7 71.5 93.1 129.7 133.4 143.4 174.5 211.6 228.4 249.2 251.3 255.5 256.3 244.9 242.1 In percent of export 3.8 2.6 5.8 5.1 4.3 8.3 2.3 5.2 3.5 3.2 3.2 4.7 4.7 6.8 10.7 12.7 11.7 12.5 12.1 10.4 9.4 8.6 8.3 In percent of GDP 1.2 0.8 1.3 1.4 1.4 3.8 1.0 2.4 1.4 1.6 1.8 2.5 2.3 2.7 3.6 4.5 4.6 4.7 4.5 4.4 4.2 3.8 3.6 Mozambique 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 27.1 62.0 71.8 58.1 66.6 23.3 35.1 81.1 38.3 49.9 66.2 91.3 123.8 159.6 307.0 385.6 801.8 919.8 815.2 710.9 748.3 639.9 680.5 In percent of export 2.8 5.4 5.3 3.3 3.2 0.8 1.2 2.5 1.4 1.7 1.7 1.8 2.6 3.4 6.6 7.6 14.8 16.8 14.1 11.3 11.3 9.5 7.8 In percent of GDP 0.6 1.2 1.3 0.9 0.9 0.3 0.4 0.7 0.3 0.5 0.5 0.6 0.8 0.9 2.1 3.5 6.4 6.4 5.3 4.4 4.3 3.5 3.2 Nicaragua 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 154.4 160.4 104.3 77.7 92.6 102.5 152.3 102.2 104.8 97.4 98.5 99.6 112.3 133.9 156.4 188.6 224.4 248.5 325.2 338.2 356.8 392.3 449.6 In percent of export 16.6 17.7 10.3 6.3 6.6 4.9 6.2 3.5 3.7 2.7 2.2 2.0 2.3 2.5 3.1 3.7 3.9 4.7 6.6 6.5 6.4 6.7 7.3 In percent of GDP 3.8 4.0 2.5 1.7 1.9 1.5 2.1 1.2 1.3 1.1 1.0 0.9 1.0 1.1 1.2 1.4 1.6 1.9 2.6 2.6 2.7 2.9 3.2 Niger 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 67.8 79.5 69.9 57.3 51.5 20.1 30.7 28.0 24.3 30.4 58.4 78.4 105.1 70.9 76.1 93.0 102.2 87.5 200.5 210.6 258.1 276.5 288.5 In percent of export 20.6 24.3 16.8 10.8 9.1 3.4 4.1 2.7 2.2 2.4 4.4 5.2 6.1 4.1 5.7 7.6 7.2 6.0 12.6 11.9 13.2 9.2 8.8 In percent of GDP 3.7 3.8 2.6 2.0 1.5 0.6 0.7 0.5 0.4 0.5 0.9 1.1 1.4 0.9 1.0 1.2 1.3 0.9 2.1 2.0 2.2 2.1 2.0 Rwanda 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 39.8 38.5 38.4 42.4 47.2 32.6 12.6 14.3 15.3 17.6 23.7 26.5 44.5 59.7 61.4 86.6 104.5 117.5 115.3 177.2 152.0 129.9 530.2 In percent of export 28.1 33.9 27.5 21.1 19.3 9.3 3.0 2.1 2.7 2.8 2.6 2.6 3.8 4.2 4.1 5.6 5.3 5.4 4.6 6.4 4.9 3.8 13.5 In percent of GDP 2.4 2.3 2.1 2.0 1.8 1.0 0.3 0.3 0.3 0.3 0.4 0.4 0.6 0.7 0.7 1.0 1.1 1.2 1.1 1.5 1.2 0.9 3.5 São Tome and Principe 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 2.7 2.2 2.8 3.3 7.0 25.1 3.3 1.9 1.6 1.6 2.4 2.4 3.3 3.3 3.5 3.2 3.2 5.1 6.5 6.7 6.8 7.2 7.6 In percent of export 24.1 14.8 17.5 21.6 44.0 155.7 24.7 10.9 8.3 6.6 8.0 7.3 6.7 3.7 3.8 3.3 3.1 4.5 5.4 5.0 4.8 4.7 4.6 In percent of GDP 3.7 2.7 2.8 3.0 5.4 17.9 2.3 1.0 0.9 0.8 1.0 1.0 1.1 0.9 1.1 0.9 0.8 1.1 1.4 1.3 1.1 1.1 1.1 Senegal 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 168.5 213.0 264.1 799.4 299.3 178.2 163.6 151.7 155.3 185.1 501.4 276.1 274.2 364.8 378.4 483.2 564.9 1,069.0 811.1 767.0 1,112.3 898.6 956.9 In percent of export 12.0 13.9 14.4 36.6 12.7 7.4 5.7 4.3 5.0 5.7 13.2 7.0 6.5 8.5 9.5 11.8 12.3 20.2 14.4 12.2 16.0 9.4 8.7 In percent of GDP 2.7 3.1 3.0 7.9 2.7 1.5 1.1 0.9 1.0 1.1 2.8 1.5 1.4 1.8 2.1 2.5 2.7 4.4 3.2 2.7 3.6 2.6 2.4 Sierra Leone 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 94.2 14.3 14.3 24.5 25.9 18.6 15.0 41.1 15.0 19.9 18.7 25.5 34.5 42.4 32.1 43.1 58.1 73.1 81.0 97.7 117.1 136.8 146.7 In percent of export 73.0 8.7 6.2 9.9 8.9 5.9 4.6 12.2 4.6 4.7 3.4 2.1 2.0 2.8 4.2 4.6 7.2 9.9 7.7 7.9 8.8 9.5 9.5 In percent of GDP 8.7 1.1 1.0 1.7 1.6 1.0 0.7 1.6 0.6 0.8 0.6 0.7 0.7 0.8 0.8 1.1 1.5 1.8 1.9 2.2 2.5 2.8 2.8 29 Table AIII2. Debt Service of 36 Post-Decision-Point HIPCs, 2001–23 (continued) 1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Tanzania 2/ 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 120.9 165.9 125.4 146.7 141.5 95.2 110.9 43.8 45.5 49.8 74.8 84.9 158.7 194.2 420.4 948.6 887.3 1,197.3 1,319.9 1,891.9 1,809.8 1,550.7 1,735.9 In percent of export 8.5 9.2 6.2 6.4 5.0 3.0 3.0 0.9 0.9 0.9 1.1 1.1 1.9 2.2 4.7 10.5 10.2 13.8 14.8 19.6 17.4 13.8 14.3 In percent of GDP 1.0 1.3 0.9 1.0 0.9 0.5 0.6 0.2 0.2 0.2 0.2 0.2 0.4 0.4 0.9 2.1 1.8 2.2 2.3 3.1 2.8 2.2 2.4 Togo Due after enhanced HIPC Initiative and MDRI relief 1/ 17.8 1.4 2.7 2.3 2.5 3.5 5.2 39.6 53.7 54.3 16.7 35.7 51.4 63.3 61.3 77.9 93.1 81.9 70.3 76.8 77.2 93.1 117.9 In percent of export 4.1 0.3 0.4 0.3 0.3 0.4 0.6 3.5 4.5 4.2 1.0 2.0 2.6 3.5 4.1 4.9 5.9 4.9 3.9 3.9 3.6 3.8 4.4 In percent of GDP 1.2 0.1 0.1 0.1 0.1 0.1 0.2 1.2 1.6 1.6 0.4 0.9 1.2 1.4 1.5 1.7 1.9 1.5 1.3 1.3 1.2 1.3 1.5 Uganda 2/ 3/ 4/ Due after enhanced HIPC Initiative and MDRI relief 1/ 150.7 144.2 152.0 167.5 185.5 125.1 70.0 84.5 80.1 87.4 89.1 102.8 228.9 406.5 376.3 331.9 379.4 456.1 394.1 390.5 472.5 605.5 811.1 In percent of export 22.8 20.9 20.4 16.6 14.1 7.9 3.4 3.1 2.5 2.5 2.3 2.2 4.6 8.3 7.7 7.1 7.7 8.5 7.0 6.4 7.0 8.3 10.3 In percent of GDP 2.6 2.3 2.3 2.3 2.0 1.2 0.6 0.6 0.5 0.5 0.4 0.4 0.9 1.5 1.4 1.4 1.5 1.7 1.3 1.2 1.3 1.6 2.0 Zambia 3/ Due after enhanced HIPC Initiative and MDRI relief 1/ 146.9 172.3 135.7 131.2 130.0 56.9 13.3 54.1 131.2 39.8 44.8 109.9 201.5 202.0 257.8 466.7 557.3 683.9 816.8 905.6 905.6 1,645.0 1,452.3 In percent of export 13.9 15.6 10.8 6.3 5.2 1.4 0.3 1.0 2.7 0.5 0.5 1.0 1.7 1.8 3.1 6.3 6.1 6.7 7.8 8.4 8.1 14.2 12.1 In percent of GDP 3.6 4.1 2.8 2.1 1.6 0.4 0.1 0.3 0.9 0.2 0.2 0.4 0.7 0.7 1.2 2.2 2.2 2.7 3.3 3.6 3.4 6.0 5.0 Sources: HIPC country documents, and World Bank and IMF staff estimates. Note: Data corresponding to years of decision and completion points under the enhanced HIPC Initiative are in thin and thick boxes, respectively. 1Debt service paid covers 2001-2017, and debt service due covers 2018-2023. For post-completion point HIPCs, debt service due reflects the negotiated relief by the debtor countries, additional debt relief, provided by some Paris Club Creditors on a voluntary basis, and MDRI (for countries that have reached the completion point in the more recent years, debt service projections assume full HIPC Initiative debt relief along with additional debt relief by the Paris Club and MDRI). 2 Data reported on a fiscal year basis. 3Reached completion point in 2000. 30 Table 3. Poverty-Reducing Expenditure of 36 Post-Decision-Point HIPCs 2001–23 1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Post-Completion-Point HIPCs (36) Afghanistan 5/ In millions of U.S. dollars - - - - - - - - - 292.8 388.8 359.8 453.4 638.5 538.1 569.4 570.3 561.8 555.8 537.6 537.0 530.3 - In percent of government revenue 2/ - - - - - - - - - 17.6 19.8 17.5 23.0 36.6 26.9 27.4 23.1 23.6 24.1 22.1 19.2 16.1 - In percent of GDP - - - - - - - - - 1.9 2.2 1.8 2.2 3.1 2.7 2.9 2.8 2.8 2.8 2.6 2.5 2.3 - Benin 3/ In millions of U.S. dollars 147.8 138.2 202.1 221.9 211.5 224.0 242.7 327.4 337.3 592.2 210.0 276.6 289.8 308.3 - - - - - - - - - In percent of government revenue 2/ 38.7 27.1 30.4 30.5 30.1 26.7 19.9 27.1 26.3 48.7 17.3 19.1 17.4 21.0 - - - - - - - - - In percent of GDP 5.5 4.5 5.2 4.9 4.4 4.4 4.1 4.6 4.7 8.5 2.7 3.4 3.2 3.2 - - - - - - - - - Bolivia 3/ In millions of U.S. dollars 973.6 1,011.5 1,050.6 1,114.3 1,193.5 1,370.9 1,587.5 1,998.0 2,262.6 2,453.2 2,716.6 3,002.6 3,355.8 3,841.4 4,168.1 4,312.1 4,798.1 5,246.3 5,517.0 5,937.5 6,410.6 6,943.7 7,533.4 In percent of government revenue 2/ 52.6 57.6 48.6 40.4 32.1 32.2 26.4 33.0 35.7 28.9 26.8 25.1 25.5 31.0 37.5 37.2 37.0 38.1 37.9 37.9 38.1 38.5 - In percent of GDP 11.9 12.8 13.0 12.7 12.5 12.3 12.5 12.3 13.5 13.0 12.0 11.3 11.2 11.7 12.7 12.6 12.7 12.7 12.7 12.7 12.7 12.7 12.7 Burkina Faso 3/ In millions of U.S. dollars 109.8 156.8 201.1 274.8 307.2 320.0 381.6 445.3 551.2 609.7 632.6 800.5 840.3 991.8 940.0 1,026.9 918.4 - - - - - - In percent of government revenue 2/ 35.4 39.0 35.6 39.0 46.5 40.5 39.0 44.3 45.9 44.4 39.7 40.1 36.0 49.6 54.1 51.9 36.6 - - - - - - In percent of GDP 3.9 4.9 4.8 5.7 5.6 5.5 5.6 5.3 6.6 6.8 5.9 7.2 7.0 8.0 9.0 9.4 7.4 - - - - - - Burundi In millions of U.S. dollars 28.5 30.3 42.0 48.8 58.4 82.4 126.7 209.0 274.8 323.8 372.6 229.0 193.9 211.1 182.0 161.2 140.3 128.3 126.8 120.0 121.2 127.8 135.4 In percent of government revenue 2/ 22.4 27.4 33.8 36.8 33.9 46.2 71.8 100.6 111.0 109.9 111.0 67.2 53.4 50.0 50.7 57.3 47.1 40.0 37.2 33.1 31.4 35.1 38.6 In percent of GDP 3.4 4.2 5.4 5.4 4.8 6.3 9.7 13.5 15.5 16.0 17.0 9.8 7.5 7.2 6.5 7.0 6.2 5.7 5.6 5.3 5.2 5.2 5.1 Cameroon 3/ In millions of U.S. dollars 335.6 365.0 258.2 824.1 974.9 1,154.8 1,442.0 1,704.6 1,879.2 2,079.4 - - - - - - - - - - - - - In percent of government revenue 2/ 20.3 20.7 12.2 34.3 33.3 33.8 37.0 35.8 48.1 55.0 - - - - - - - - - - - - - In percent of GDP 3.2 3.1 1.8 4.7 5.4 6.0 6.4 6.4 7.2 7.9 - - - - - - - - - - - - - Central African Republic In millions of U.S. dollars - - - - - - 33.2 44.2 63.7 39.0 63.6 58.8 - - - - - - - - - - - In percent of government revenue 2/ - - - - - - 19.0 21.4 29.8 16.9 26.9 23.6 - - - - - - - - - - - In percent of GDP - - - - - - 2.0 2.2 3.2 2.0 2.9 2.7 - - - - - - - - - - - Chad In millions of U.S. dollars 64.3 84.8 113.0 132.4 326.0 558.0 806.4 892.8 942.7 887.4 1,086.0 1,185.2 678.3 626.5 439.8 330.7 347.2 385.4 428.4 - - - - In percent of government revenue 2/ 19.8 20.6 21.9 23.1 38.8 42.5 50.5 40.4 82.3 43.9 38.5 44.0 28.2 28.3 38.1 34.0 32.0 30.4 34.9 - - - - In percent of GDP 2.2 2.6 3.0 2.4 4.9 7.5 9.3 8.6 10.1 8.3 8.9 9.6 5.2 4.5 4.0 3.3 3.5 3.5 3.8 - - - - Comoros In millions of U.S. dollars - - - - - - - 41.6 39.4 37.8 53.6 - - - - - - - - - - - - In percent of government revenue 2/ - - - - - - - 60.0 52.8 48.9 54.2 - - - - - - - - - - - - In percent of GDP - - - - - - - 7.8 7.3 7.0 8.7 - - - - - - - - - - - - Democratic Republic of the Congo In millions of U.S. dollars 126.5 124.6 254.0 271.1 393.2 425.8 521.3 725.9 763.7 1,099.1 1,156.0 1,276.0 1,316.5 1,555.2 1,798.9 2,109.2 2,259.1 2,442.3 2,736.0 2,983.2 - - - In percent of government revenue 2/ 58.3 32.4 61.0 53.2 40.3 35.3 31.0 38.6 43.4 44.5 39.4 32.1 31.5 30.6 34.8 61.1 66.1 50.0 59.5 64.0 - - - In percent of GDP 1.5 1.4 2.8 2.6 3.3 3.0 3.2 3.8 4.2 5.3 4.7 4.6 4.0 4.3 4.7 5.8 6.0 5.2 5.6 5.8 - - - Republic of the Congo In millions of U.S. dollars - - 142.9 205.9 309.0 458.6 593.1 686.8 788.8 927.2 1,171.2 1,265.2 1,456.8 1,619.1 1,469.8 1,392.8 1,307.8 1,279.4 1,283.7 1,368.4 1,466.5 1,584.2 1,711.3 In percent of government revenue 2/ - - 12.6 13.6 13.8 12.7 17.1 13.4 26.8 18.4 18.2 18.5 20.0 26.0 55.1 56.6 51.2 39.1 35.7 38.5 45.1 46.1 48.4 In percent of GDP - - 4.1 4.4 5.1 5.9 7.1 5.8 8.2 7.5 7.9 9.3 10.4 11.5 17.2 17.9 14.5 11.4 12.5 13.2 14.8 15.9 17.3 Cote d'Ivoire In millions of U.S. dollars - - - - 842.9 1,024.5 1,265.2 1,541.9 1,851.5 1,803.1 1,662.4 2,173.3 2,811.2 3,002.9 2,938.0 3,237.7 3,857.1 4,196.9 4,306.4 4,792.5 5,309.8 5,801.0 6,285.7 In percent of government revenue 2/ - - - - 31.9 30.5 31.0 36.8 41.0 40.7 49.8 42.5 47.1 54.3 48.7 51.9 49.7 52.4 50.7 50.6 50.5 49.7 49.2 In percent of GDP - - - - 5.2 5.5 5.8 6.7 7.4 7.2 7.0 7.9 8.7 9.3 9.0 9.6 9.5 9.9 9.7 9.8 9.9 9.9 9.9 31 Table 3. Poverty-Reducing Expenditure of 36 Post-Decision-Point HIPCs 2001-2023 (continued)1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Ethiopia 5/ In millions of U.S. dollars 733.4 884.0 1,001.4 1,180.4 1,618.6 2,106.9 2,542.7 3,224.4 3,482.0 3,696.3 3,873.8 5,076.1 5,924.1 6,647.0 7,389.5 8,740.9 9,116.2 8,080.6 9,143.6 10,048.4 10,988.3 11,978.9 13,146.1 In percent of government revenue 2/ 61.0 72.9 77.2 73.3 90.0 93.8 105.3 104.0 97.9 92.9 94.8 87.5 89.0 89.0 81.5 82.2 81.7 80.4 79.7 79.5 78.9 78.3 77.0 In percent of GDP 8.9 11.3 11.6 11.6 13.0 13.8 12.9 11.9 10.7 12.3 12.1 11.7 12.4 12.0 11.4 12.0 11.3 9.9 9.9 10.0 10.0 10.1 10.2 The Gambia 3/ In millions of U.S. dollars 19.6 18.4 16.3 15.0 14.8 19.8 34.4 31.2 33.7 34.9 34.6 33.5 32.4 28.5 35.2 76.5 85.5 89.6 112.6 142.8 182.1 232.2 232.2 In percent of government revenue 2/ 33.6 35.9 32.1 17.7 16.0 18.4 22.4 23.7 23.3 25.0 24.6 23.7 23.3 20.1 18.4 43.3 51.6 49.4 52.7 59.8 69.1 80.3 73.8 In percent of GDP 1.9 2.0 1.9 1.5 1.4 1.8 2.7 1.9 2.3 2.1 2.5 2.4 2.4 2.3 2.6 5.3 5.8 5.5 6.5 7.6 9.1 11.0 10.3 Ghana In millions of U.S. dollars 23.6 276.1 483.3 676.2 904.2 1,339.9 1,357.9 1,304.9 1,308.5 1,636.2 1,859.6 2,845.9 2,439.2 2,072.5 2,160.1 2,496.1 2,605.0 2,753.9 3,084.3 3,264.9 3,548.4 3,631.8 3,789.8 In percent of government revenue 2/ 2.5 27.3 32.0 34.3 38.9 48.4 41.2 39.4 37.5 36.2 27.9 41.4 34.9 32.8 33.1 35.9 31.9 29.2 27.7 28.3 26.9 25.6 24.6 In percent of GDP 0.2 1.9 2.8 3.3 3.7 4.7 4.0 3.4 3.8 3.8 3.5 5.0 3.9 3.9 4.4 4.5 4.4 4.3 4.4 4.3 4.3 4.1 4.0 Guinea 3/ In millions of U.S. dollars 102.9 131.5 121.9 116.3 114.4 112.7 177.2 205.0 320.0 322.0 221.3 597.0 480.8 652.6 602.8 593.3 795.2 871.6 964.6 1,054.3 1,124.1 1,228.8 1,318.8 In percent of government revenue 2/ 30.7 34.0 32.3 31.7 33.1 29.3 29.8 32.6 44.0 47.1 27.7 52.2 42.6 55.2 53.7 48.0 55.5 56.2 54.3 51.9 50.0 49.7 49.6 In percent of GDP 2.7 3.3 2.6 2.3 2.5 2.7 2.8 2.9 4.7 4.7 3.7 8.2 5.7 7.4 6.9 6.8 7.6 7.4 7.6 7.7 7.6 7.8 7.8 Guinea-Bissau 3/ In millions of U.S. dollars 11.5 7.4 8.0 12.6 13.2 20.8 27.0 31.4 31.9 33.0 36.4 40.6 36.6 55.1 67.2 53.9 74.8 80.9 83.8 89.8 97.6 103.9 112.5 In percent of government revenue 2/ 28.4 22.3 20.9 23.9 22.4 34.7 48.6 40.5 42.4 36.1 32.6 45.1 43.9 41.5 46.8 37.9 43.2 46.5 44.4 42.3 40.3 38.1 37.0 In percent of GDP 3.0 1.7 1.5 2.2 2.4 3.3 3.6 3.9 3.7 3.9 3.5 4.0 3.4 5.6 6.5 4.8 5.3 5.6 5.4 5.3 5.3 5.3 5.3 Guyana 3/ 5/ In millions of U.S. dollars 144.3 151.0 159.5 157.2 173.8 192.3 198.2 188.2 255.0 266.9 - - - - - - - - - - - - - In percent of government revenue 2/ 62.4 65.0 61.6 53.7 57.2 56.8 47.0 45.5 51.4 49.7 - - - - - - - - - - - - - In percent of GDP 12.8 13.0 13.3 12.5 13.3 13.2 11.4 9.8 12.6 11.8 - - - - - - - - - - - - - Haiti 5/ In millions of U.S. dollars - - - - - - - - 166.6 240.3 237.3 325.4 328.1 311.6 299.6 244.3 276.2 347.7 365.2 383.5 402.7 422.9 - In percent of government revenue 2/ - - - - - - - - 23.3 30.5 24.8 31.7 30.5 29.0 26.5 23.4 22.3 25.1 24.2 24.1 23.6 23.2 - In percent of GDP - - - - - - - - 2.5 3.6 3.2 4.1 3.9 3.6 3.5 3.0 3.2 3.7 3.7 3.7 3.7 3.7 - Honduras 3/ In millions of U.S. dollars 566.0 496.5 533.4 624.0 741.2 763.6 1,377.3 1,685.4 1,652.2 1,767.7 1,788.7 1,871.5 1,960.6 1,821.9 - - - - - - - - - In percent of government revenue 2/ 37.0 31.2 32.5 32.3 33.8 31.7 49.0 50.8 52.7 51.7 46.6 47.2 46.5 39.4 - - - - - - - - - In percent of GDP 7.5 6.4 6.6 7.1 7.7 7.0 11.2 12.2 11.4 11.2 10.1 10.1 10.6 9.2 - - - - - - - - - Liberia 5/ In millions of U.S. dollars - - - - - - - - - 224.9 223.3 237.3 289.7 292.3 370.6 415.1 408.9 408.4 443.7 461.8 - - - In percent of government revenue 2/ - - - - - - - - - 69.7 59.6 52.3 59.1 64.4 83.4 90.7 92.2 93.3 96.0 95.6 - - - In percent of GDP - - - - - - - - - 11.3 9.3 8.7 9.5 9.3 11.7 12.7 12.5 13.0 14.4 14.7 - - - Madagascar 3/ In millions of U.S. dollars - - - - 75.3 65.2 119.9 147.1 131.7 53.7 89.6 65.5 50.0 97.7 65.8 79.4 99.6 107.6 114.8 203.9 234.0 248.4 - In percent of government revenue 2/ - - - - 14.8 9.9 13.3 13.6 15.6 5.6 10.3 7.1 5.0 9.7 7.1 7.4 7.4 7.2 7.0 11.2 11.6 11.3 - In percent of GDP - - - - 1.5 1.2 1.6 1.6 1.5 0.6 0.9 0.7 0.5 0.9 0.7 0.8 0.9 0.9 0.8 1.4 1.5 1.5 - Malawi 3/ In millions of U.S. dollars - - - - - - - - - - - - - - 448.9 220.0 383.0 496.0 540.0 570.0 602.0 639.0 671.0 In percent of government revenue 2/ - - - - - - - - - - - - - - 56.3 25.3 33.3 39.3 40.3 40.7 40.0 39.1 37.5 In percent of GDP - - - - - - - - - - - - - - 7.0 4.0 6.2 7.3 7.4 7.4 7.4 7.3 7.2 Mali 3/ In millions of U.S. dollars 365.5 475.3 600.4 773.8 837.3 1,041.9 1,212.4 1,106.9 1,393.4 771.3 950.4 790.9 990.2 735.3 804.0 856.6 834.7 799.2 823.2 847.9 873.4 899.6 926.5 In percent of government revenue 2/ 86.3 82.6 76.0 83.5 91.4 93.3 95.7 87.8 86.4 47.7 55.3 43.3 49.8 37.0 38.1 38.3 28.1 26.4 24.2 22.4 21.1 19.9 18.7 In percent of GDP 10.6 11.3 11.7 13.2 14.1 14.3 14.0 12.2 13.0 7.2 7.7 6.2 7.2 5.5 6.3 6.4 5.2 4.7 4.5 4.3 4.1 3.9 3.7 Mauritania 3/ In millions of U.S. dollars 79.1 105.0 214.0 179.5 129.1 185.7 265.8 398.0 332.6 325.1 385.0 461.5 539.1 560.6 - - - - - - - - - In percent of government revenue 2/ 35.2 29.7 54.7 39.0 28.7 23.6 35.3 52.2 44.4 36.4 34.9 35.1 39.2 43.4 - - - - - - - - - In percent of GDP 6.1 7.9 13.7 9.8 5.9 6.0 8.0 10.0 9.1 7.5 7.4 8.8 9.4 10.4 - - - - - - - - - Mozambique 3/ In millions of U.S. dollars 590.6 647.5 699.3 875.8 943.4 1,183.8 1,331.7 1,958.8 2,097.6 2,119.5 2,132.6 2,439.1 2,991.2 3,609.9 - - - - - - - - - In percent of government revenue 2/ 145.5 128.1 113.7 98.3 106.5 113.9 96.0 128.4 123.5 112.1 76.9 76.5 71.1 82.9 - - - - - - - - - In percent of GDP 12.9 13.0 12.6 13.0 12.4 14.3 14.1 17.0 18.7 20.3 16.2 16.1 18.7 21.2 - - - - - - - - - 32 Table 3. Poverty-Reducing Expenditure of 36 Post-Decision-Point HIPCs 2001-2023 (concluded)1/ (In millions of U.S. dollars, unless otherwise indicated) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Prel. Projections Nicaragua 3/ In millions of U.S. dollars 361.5 410.7 467.5 536.0 620.7 632.3 771.1 850.1 837.0 847.9 922.5 1,009.2 1,090.0 1,268.5 1,408.8 1,499.2 1,534.8 1,642.3 1,767.5 1,779.1 1,815.2 1,863.1 1,927.5 In percent of government revenue 2/ 41.7 45.5 46.4 46.3 47.7 42.1 45.1 45.1 45.0 41.2 38.4 38.6 39.7 42.7 43.0 41.6 40.5 45.8 56.6 54.7 53.0 52.0 51.0 In percent of GDP 8.8 10.2 11.4 12.0 12.7 9.3 10.4 10.0 10.1 9.7 9.4 9.6 9.9 10.7 11.1 11.4 11.1 12.4 13.9 13.9 13.9 13.9 13.9 Niger 3/ In millions of U.S. dollars - 169.8 221.5 280.6 291.5 339.0 376.0 430.1 401.5 353.4 626.2 677.6 728.7 828.7 758.3 769.8 880.4 972.3 1,062.4 - - - - In percent of government revenue 2/ - 68.0 75.4 79.2 85.3 68.1 54.7 46.9 49.6 45.5 72.7 62.4 55.5 61.7 59.5 74.4 71.7 65.0 67.8 - - - - In percent of GDP - 8.2 8.4 9.7 8.6 9.3 8.8 7.9 7.4 6.2 9.8 9.8 9.5 10.1 10.5 10.1 10.8 10.5 10.9 - - - - Rwanda 3/ In millions of U.S. dollars 90.6 107.8 115.4 137.0 216.4 267.2 382.7 568.6 671.6 778.8 818.8 876.7 878.0 931.5 1,028.5 1,134.4 1,247.1 1,362.4 - - - - - In percent of government revenue 2/ 47.9 54.3 53.9 52.5 66.4 70.7 81.1 83.7 100.8 107.4 91.3 79.3 73.6 71.6 70.1 75.9 76.5 77.0 - - - - - In percent of GDP 5.4 6.4 6.3 6.5 8.4 8.5 10.0 11.7 12.5 13.5 12.6 12.0 11.5 11.6 12.4 13.4 13.7 14.0 - - - - - São Tome and Principe 3/ In millions of U.S. dollars 13.7 12.1 15.2 14.7 14.4 15.8 19.4 22.3 40.9 15.6 21.8 54.2 22.7 30.2 32.0 20.2 25.3 26.6 27.7 28.8 29.9 31.1 32.4 In percent of government revenue 2/ 138.2 98.1 101.6 90.3 23.9 67.6 36.9 76.5 129.9 42.8 49.7 124.6 35.1 62.5 61.8 41.9 44.2 41.8 44.1 40.1 33.7 31.3 29.2 In percent of GDP 18.9 14.9 15.5 13.7 11.0 11.3 13.1 11.9 21.8 7.9 9.3 21.5 7.5 8.7 10.1 5.7 6.4 6.0 5.9 5.5 4.8 4.6 4.5 Senegal 3/ In millions of U.S. dollars 292.6 300.8 436.8 541.5 622.5 634.8 829.1 949.2 1,030.3 1,102.4 1,167.7 591.6 1,335.9 1,825.2 - - - - - - - - - In percent of government revenue 2/ 31.6 25.4 27.7 27.3 32.2 29.3 28.7 34.9 34.9 38.6 37.8 17.5 38.5 51.7 - - - - - - - - - In percent of GDP 4.7 4.4 5.0 5.3 5.6 5.4 5.8 5.6 6.3 6.8 6.5 3.3 7.0 9.2 - - - - - - - - - Sierra Leone In millions of U.S. dollars 36.7 57.4 59.7 49.9 53.5 61.8 53.2 111.1 106.8 69.0 123.6 200.1 203.7 272.7 222.2 194.5 256.4 222.4 234.3 270.6 296.7 321.1 341.0 In percent of government revenue 2/ 38.2 52.7 53.2 40.0 37.7 37.1 29.5 49.4 54.4 28.5 37.0 46.3 38.9 60.7 53.8 48.4 57.9 42.2 42.2 44.4 44.0 42.6 41.7 In percent of GDP 3.4 4.6 4.3 3.5 3.2 3.3 2.5 4.4 4.4 2.7 4.2 5.3 4.1 5.4 5.2 5.1 6.8 5.4 5.5 6.1 6.4 6.6 6.6 Tanzania 3/ 5/ In millions of U.S. dollars 595.1 799.3 860.7 1,023.6 1,095.4 1,544.1 2,071.3 2,876.9 3,685.7 4,026.3 4,366.3 5,070.9 1,418.3 1,681.9 1,376.2 1,558.6 1,526.6 1,632.2 1,739.7 1,854.2 1,973.1 2,105.4 2,251.9 In percent of government revenue 2/ 56.8 72.6 74.0 77.7 69.6 91.1 95.8 93.5 112.8 115.7 119.6 110.2 26.9 27.3 24.8 24.4 20.5 20.7 20.7 20.4 20.2 19.9 19.6 In percent of GDP 4.7 6.2 6.3 7.0 6.6 8.6 10.6 11.6 13.2 13.1 13.3 14.2 3.4 3.6 2.8 3.5 3.1 3.1 3.1 3.1 3.1 3.1 3.1 Togo In millions of U.S. dollars 69.2 64.0 75.4 93.5 106.7 137.6 161.4 201.2 209.1 209.7 284.3 299.3 318.1 308.6 372.7 413.3 394.1 404.3 439.2 479.9 524.5 572.2 624.6 In percent of government revenue 2/ 35.3 32.6 24.4 26.7 33.8 34.9 35.7 43.9 39.8 36.7 47.9 42.5 39.4 39.7 46.6 51.9 43.1 38.5 39.4 38.6 37.9 36.7 35.7 In percent of GDP 4.7 3.8 3.6 4.1 4.7 5.9 6.1 6.1 6.2 6.1 7.3 7.7 7.4 6.7 8.9 9.2 8.2 7.5 7.9 7.9 7.9 7.8 7.9 Uganda 3/ 4/ 5/ In millions of U.S. dollars 235.3 335.7 343.1 377.7 448.5 475.4 614.4 559.9 687.9 730.5 783.9 876.6 919.4 1,037.5 918.2 921.8 1,069.4 1,025.5 - - - - - In percent of government revenue 2/ 36.0 48.1 47.9 40.5 40.1 39.0 36.6 28.8 37.8 39.0 32.5 32.7 32.6 33.0 30.0 27.3 29.7 27.4 - - - - - In percent of GDP 4.0 5.4 5.2 5.2 4.9 4.5 5.4 4.1 4.2 4.1 3.9 3.8 3.7 3.8 3.4 3.8 4.1 3.7 - - - - - Zambia 3/ In millions of U.S. dollars 45.7 35.3 46.8 111.1 1,198.9 906.4 1,109.0 1,021.6 850.3 1,037.4 1,295.9 1,628.0 1,664.0 1,794.1 1,959.9 2,182.0 2,414.2 - - - - - - In percent of government revenue 2/ 7.0 5.3 5.9 11.2 74.6 61.8 50.0 47.7 38.3 36.0 34.0 37.6 37.5 37.9 63.2 55.6 56.2 - - - - - - In percent of GDP 1.1 0.8 1.0 1.8 14.4 7.1 7.9 5.7 5.5 5.1 5.5 6.4 5.9 6.6 9.2 10.4 9.3 - - - - - - Sources: HIPC country documents, and World Bank and IMF staff estimates. Note: Data corresponding to years of decision and completion points under the enhanced HIPC Initiative are in thin and thick boxes, respectively. 1The coverage of poverty-reducing expenditures varies across countries but is generally consistent with the definition in the PRSP and the budget of each HIPC. In some countries, the definition of poverty-reducing expenditures has evolved over time. Therefore, some of the increase in such spending over the 2001-2003 period may reflect changes in the definition. In the majority of countries, expenditures on health and education are included but beyond that there are wide variations in the sectoral spending included. 2Central government revenue excluding grants. 3Reached decision point in 2000. 4Reached completion point in 2000. 5Data reported on a fiscal year basis. 33 Table AIII4. HIPC Initiative and MDRI: Committed Debt Relief and Outlook1/ (In millions of U.S. dollars; status as of end-August 2018) Decision Completion Assistance under the HIPC Initiative Assistance Delivered Total HIPC and Point Date Point Date under MDRI 2/ MDRI Assistance In PV Terms as of Decision In Nominal Terms In Nominal Terms In Nominal Terms Point 3/ 4/ (1) (2) (3) (4) (5) (6)=(4)+(5) 36 Post-Completion-Point HIPCs … 76,378 48,432 124,810 Afghanistan Jul-07 Jan-10 582 1,280 37 1,317 Benin Jul-00 Mar-03 262 460 1,085 1,545 Bolivia 5/ Feb-00 Jun-01 1,330 2,060 2,771 4,831 Burkina Faso 5/ 6/ Jul-00 Apr-02 553 930 1,150 2,080 Burundi Aug-05 Jan-09 833 1,366 65 1,431 Cameroon Oct-00 Apr-06 1,267 4,917 1,206 6,123 Central African Republic Sep-07 Jun-09 578 804 253 1,057 Chad May-01 Apr-15 170 260 764 1,024 Comoros Jun-10 Dec-12 146 136 72 208 Congo, Dem. Rep. of the Jul-03 Jul-10 7,252 15,222 973 16,195 Congo, Rep. of Mar-06 Jan-10 1,575 1,738 187 1,925 Cote d'Ivoire Mar-09 Jun-12 1,576 3,415 1,745 5,160 Ethiopia 6/ Nov-01 Apr-04 1,935 3,275 3,136 6,411 Gambia, The Dec-00 Dec-07 67 112 364 476 Ghana Feb-02 Jul-04 2,187 3,500 3,735 7,235 Guinea Dec-00 Sep-12 639 800 916 1,716 Guinea-Bissau 6/ Dec-00 Dec-10 489 790 114 904 Guyana 5/ Nov-00 Dec-03 610 1,354 701 2,054 Haiti Nov-06 Jun-09 140 213 947 1,160 Honduras Jun-00 Apr-05 556 1,000 2,677 3,677 Liberia 8/ Mar-08 Jun-10 2,739 4,600 258 4,858 Madagascar Dec-00 Oct-04 836 1,900 2,305 4,205 Malawi 6/ Dec-00 Aug-06 939 1,628 1,491 3,119 Mali 5/ Sep-00 Mar-03 539 895 1,894 2,789 Mauritania Feb-00 Jun-02 622 1,100 840 1,940 Mozambique 5/ Apr-00 Sep-01 2,143 4,300 1,964 6,264 Nicaragua Dec-00 Jan-04 3,308 4,500 1,871 6,371 Niger 6/ Dec-00 Apr-04 644 1,190 1,004 2,194 Rwanda 6/ Dec-00 Apr-05 651 1,316 465 1,781 São Tomé and Príncipe 6/ Dec-00 Mar-07 117 263 58 321 Senegal Jun-00 Apr-04 488 850 2,374 3,224 Sierra Leone Mar-02 Dec-06 675 994 633 1,627 Tanzania Apr-00 Nov-01 2,026 3,000 3,683 6,683 Togo Nov-08 Dec-10 282 360 683 1,043 Uganda 5/ Feb-00 May-00 1,027 1,950 3,366 5,316 Zambia Dec-00 Apr-05 2,499 3,900 2,645 6,545 2 Non-HIPCs 7/ 182 182 Cambodia ... ... ... ... 82 82 Tajikistan ... ... ... ... 100 100 Total Debt Relief Committed … 76,378 48,614 124,992 Sources: HIPC documents, and World Bank and IMF staff estimates. 1/ Committed debt relief under the assumption of full participation of creditors. 2/ Nominal MDRI costs include principal and interest foregone for all multilaterals participating in the Initiative, except IMF, which only include principal. The estimated costs for IMF reflect the stock of debt eligible for MDRI relief, which is the debt outstanding (principal only) as of end-2004 and that has not been repaid by the member and is not covered by HIPC assistance (EBS/05/158 Revision 1, 12/15/2005). 3/ Topping-up assistance and assistance provided under the original HIPC Initiative are expressed in PV-terms as of the time of the decision point. 4/ No totals are shown because the amounts are in different PV terms (according to the date of the decision point). 5/ Also reached completion point under the original HIPC Initiative. The assistance includes original debt relief. 6/ Assistance includes topping up at completion point. 7/ IMF MDRI debt relief to Cambodia and Tajikistan. 8/ Liberia received MDRI-type (beyond-HIPC) debt relief at end-June 2010, which was financed from the Liberia Administered Account. 34 Table AIII5. HIPC Initiative: Cost Estimates to Multilateral Creditors and Status of their Commitments to Post-Completion-Point HIPCs (In millions of U.S. dollars, in end-2017 PV terms; status as of end-August 2018) Number of Completion Creditors Point Debtors HIPC Assistance Costs Total Relief In millions of U.S. Percent of Commited dollars, in end-2017 PV Total Terms Cost Delivering or Committed to Deliver Debt Relief 28,112 99.4 World Bank Group 35 35 13,191 46.6 African Development Bank (AfDB) Group 29 29 5,056 17.9 International Monetary Fund (IMF) 35 35 4,555 16.1 Inter-American Development Bank (IaDB) 5 5 1,646 5.8 European Union/European Investment Bank (EU/EIB) 30 30 1,068 3.8 Central American Bank for Economic Integration (CABEI) 2 2 717 2.5 International Fund for Agricultural Development (IFAD) 34 34 460 1.6 Arab Bank for Economic Development in Africa (BADEA) 27 27 348 1.2 OPEC Fund for International Development (OFID) 35 35 279 1.0 Islamic Development Bank (IsDB) 15 14 192 0.7 Arab Fund for Economic and Social Development (AFESD) 1 1 89 0.3 Corporación Andina de Fomento (CAF) 1 1 130 0.5 West African Development Bank (BOAD) 4 4 89 0.3 Caricom Multilateral Clearing Facility (CMCF) 5 5 85 0.3 Asian Development Bank (AsDB) 1 1 72 0.3 Nordic Development Fund (NDF) 9 9 39 0.1 Fund for the Financial Development of the River Plate Basin (FONPLATA) 1 1 35 0.1 Caribbean Development Bank (CDB) 1 1 25 0.1 Arab Monetary Fund (AMF) 1 1 17 0.1 Central Bank of West African States (BCEAO) 3 1 8 0.0 Nordic Investment Bank (NIB) 1 1 5 0.0 East African Development Bank (EADB) 2 2 5 0.0 Shelter Afrique 2 1 1 0.0 Have not Indicated Intention to Provide Relief under the HIPC Initiative 167.0 0.6 Banque des Etats de l'Afrique Centrale (BEAC) 1 0 45.5 0.2 Economic Community of West African States (ECOWAS) 10 0 30.0 0.1 Eastern and Southern African Trade and Development Bank (PTA Bank) 2 0 12.4 0.0 Banque de Développement des Etats de l'Afrique Centrale (BDEAC) 2 0 13.3 0.0 Banque de Dévelopment des Etats des Grands Lacs (BDEGL) 2 0 58.4 0.2 Conseil de L'Entente (FEGECE) 3 0 4.0 0.0 Fondo Centroamericano de Estabilización Monetaria (FOCEM) 1 0 2.4 0.0 Islamic Solidarity Fund for Development (ISFD) 1 0 1.0 0.0 Total 28,279 100.0 Sources: HIPC documents, country authorities, and World Bank and IMF staff estimates. 35 Table AIII6A. Status of Delivery of HIPC Initiative and MDRI Assistance by the World Bank (In millions of U.S. dollars; status as of end-August 2018) Assistance under the MDRI Total Committed Total Delivered World Bank Assistance under the HIPC Initiative (IDA only) Assistance Assistance under the HIPC under the HIPC Committed Delivered Delivered Delivered Initiative and Initiative and Committed Committed Assistance in PV Assistance in Assistance in Assistance in MDRI in end- MDRI in end- Assistance in Assistance in end- Terms as of end-2017 PV Nominal Terms end-2017 PV 2017 PV Terms 2017 PV Terms Nominal Terms 2017 PV Terms Decision Point Terms 1/ 2/ Terms (I) (II) (III) (IV) (V) (VI) (III) + (VI) (IV) + (VI) 36 Post-Completion-Point HIPCs TOTAL 3/ 16,583.5 … 13,190.9 11,188.7 32,945.3 29,268.5 42,459.5 40,457.2 Afghanistan 125.8 76.0 92.6 48.6 36.6 29.6 122.2 78.1 Benin 124.3 84.4 118.1 117.7 678.4 630.4 748.5 748.1 Bolivia 4/ 287.2 197.4 276.2 277.6 1,496.8 1,378.2 1,654.4 1,655.8 Burkina Faso 4/ 5/ 419.5 231.7 324.3 292.4 722.5 644.5 968.8 936.9 Burundi 774.8 425.2 539.0 304.5 41.0 36.6 575.7 341.1 Cameroon 297.0 176.1 246.5 216.2 767.0 693.1 939.6 909.3 Central African Republic 291.8 206.9 257.2 187.0 156.8 146.0 403.2 333.1 Chad 106.7 68.1 93.5 59.9 466.7 386.9 480.3 446.8 Comoros 65.8 44.9 52.6 21.5 42.1 35.1 87.6 56.6 Congo, Dem. Rep. of 1,435.4 878.7 1,159.0 867.1 829.3 657.9 1,816.9 1,525.1 Congo, Republic of 67.4 47.0 59.6 47.1 171.2 149.2 208.8 196.3 Côte d’Ivoire 430.6 412.6 492.9 487.4 1,485.3 1,299.1 1,792.0 1,786.4 Ethiopia 5/ 1,288.4 807.2 1,107.6 940.2 2,274.8 1,914.7 3,022.3 2,855.0 Gambia, The 35.9 22.3 31.2 30.9 194.2 176.9 208.1 207.8 Ghana 1,445.7 781.6 1,072.4 873.8 2,921.2 2,611.4 3,683.8 3,485.2 Guinea 327.3 173.6 242.9 196.5 778.6 672.5 915.4 869.0 Guinea-Bissau 5/ 263.7 116.7 166.6 116.7 64.2 50.3 216.9 166.9 Guyana 4/ 132.8 70.2 98.2 86.7 185.1 168.1 266.4 254.8 Haiti 54.5 52.8 65.6 65.9 455.1 425.8 491.4 491.6 Honduras 171.6 97.8 136.8 154.8 1,168.2 1,058.6 1,195.4 1,213.4 Liberia 394.1 373.6 446.3 455.0 68.8 65.4 511.8 520.4 Madagascar 444.4 256.2 358.6 327.3 1,742.3 1,572.3 1,930.9 1,899.6 Malawi 5/ 993.5 538.7 754.0 621.4 1,191.5 1,024.7 1,778.7 1,646.0 Mali 4/ 291.8 184.1 257.7 259.7 1,245.2 1,141.7 1,399.4 1,401.5 Mauritania 172.8 99.9 139.8 129.5 539.2 483.2 622.9 612.6 Mozambique 4/ 1,055.1 438.6 613.8 619.8 1,291.5 1,177.0 1,790.8 1,796.7 Nicaragua 382.6 190.9 267.1 200.5 748.9 636.4 903.5 836.9 Niger 5/ 410.1 231.0 323.3 270.8 727.3 623.5 946.8 894.3 Rwanda 5/ 709.4 353.2 494.3 330.8 334.0 267.2 761.6 598.0 São Tomé and Príncipe 5/ 61.1 29.8 41.7 28.6 23.9 20.3 62.0 48.9 Senegal 163.9 123.6 173.0 172.0 1,832.6 1,705.2 1,878.3 1,877.2 Sierra Leone 234.5 123.4 166.0 138.1 373.7 317.0 483.0 455.1 Tanzania 1,157.1 694.5 972.0 858.2 2,762.7 2,483.9 3,455.8 3,342.1 Togo 98.0 101.5 121.3 117.3 567.8 526.4 647.7 643.7 Uganda 4/ 983.6 527.8 738.7 691.5 2,729.6 2,468.8 3,207.5 3,160.3 Zambia 885.2 493.2 690.3 575.7 1,831.1 1,590.9 2,281.2 2,166.6 Total Debt Relief Committed 1/ 16,583.5 … 13,190.9 11,188.7 32,945.3 29,268.5 42,459.5 40,457.2 Sources: HIPC documents, and World Bank staff estimates. 1/ Total delivered HIPC assistance to end-2017. 2/ Nominal MDRI costs include principal and interest foregone. 3/ The total amounts shown are only indicative, as they represent the sum of individual commitments expressed in different PV terms, corresponding to the time of the decision point of each HIPC. 4/ Also reached completion point under the original HIPC Initiative. The assistance includes original debt relief. 5/ The assistance includes topping-up at completion point. 36 Table AIII6B. World Bank Group Debt Service after HIPC and MDRI Debt Relief, 2000–23 (In millions of U.S. dollars) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Actual 1/ Projected 1/ Debt Service before HIPC Initiative Debt Relief Afghanistan - - - 31 4 5 5 6 6 6 6 7 7 10 17 19 18 19 19 18 18 18 18 20 Benin 15 14 14 16 19 21 22 24 25 27 29 30 32 33 35 38 40 42 44 45 47 49 53 60 Bolivia 31 21 23 27 33 35 37 40 45 52 56 59 63 70 79 81 85 85 91 96 100 117 117 112 Burkina Faso 14 10 14 16 20 23 24 26 27 29 30 35 41 44 46 47 51 56 59 61 61 69 76 86 Burundi 13 14 16 19 20 25 22 23 27 27 29 31 32 35 35 36 36 34 34 34 34 36 36 38 Cameroon 92 115 88 74 59 57 71 39 34 37 44 45 46 47 49 46 49 53 59 62 68 74 81 84 Central African Republic 2/ 9 9 0 - - - 66 15 16 16 18 19 20 20 20 20 20 19 18 18 18 18 20 21 Chad 9 15 11 12 15 22 28 22 68 26 26 28 29 31 32 32 34 33 34 34 35 36 37 39 Comoros - - - - - - - - 4 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5 Congo, Dem. Rep. of 2/ - - 329 43 47 60 37 53 62 59 60 60 70 84 91 87 88 86 86 85 85 91 106 118 Congo, Republic of 12 82 12 11 9 9 6 8 8 8 7 8 9 10 11 13 13 13 13 14 16 19 20 20 Côte d’Ivoire 2/ - - - - - - - - 307 424 85 69 68 67 70 73 82 82 88 91 91 102 122 119 Ethiopia 34 38 43 55 67 73 76 80 96 104 107 123 133 142 155 161 172 185 214 225 241 282 358 399 Gambia, The 4 4 4 5 6 6 6 7 7 9 9 10 10 10 10 10 10 10 10 11 11 13 14 13 Ghana 57 63 70 77 91 102 104 117 128 138 146 160 173 181 181 197 208 211 220 238 263 282 294 301 Guinea 19 22 22 26 28 32 33 36 43 32 48 49 52 52 53 54 55 53 55 55 55 57 61 63 Guinea-Bissau 6 6 5 6 7 7 8 9 10 10 11 12 13 14 14 14 14 14 14 14 14 17 18 16 Guyana 7 6 8 6 6 6 6 6 6 7 8 9 9 10 10 10 11 10 10 11 11 12 13 13 Haiti 10 4 - - 1 52 18 20 20 20 21 21 21 20 20 22 22 21 21 21 21 21 21 20 Honduras 63 65 58 45 41 110 45 43 44 41 35 40 45 48 53 64 75 80 89 100 105 121 122 122 Liberia 2/ - - - - - - - 422 4 4 4 8 4 4 4 4 5 5 6 6 6 9 13 16 Madagascar 28 32 32 38 45 48 52 58 66 71 76 83 86 89 94 98 102 104 110 113 115 122 132 137 Malawi 36 38 37 43 48 51 54 57 61 68 72 76 79 84 86 88 91 89 91 96 97 100 104 108 Mali 23 21 21 25 31 34 36 40 43 46 50 57 61 62 64 67 72 76 80 83 87 97 104 107 Mauritania 12 9 10 11 13 15 16 17 20 21 24 26 28 29 30 32 33 34 34 35 37 38 40 40 Mozambique 15 11 12 16 25 28 30 33 36 41 49 54 61 67 73 79 84 88 93 99 108 123 135 147 Nicaragua 12 12 10 12 16 18 19 21 23 27 29 30 37 39 42 44 46 47 49 53 55 59 66 66 Niger 16 17 15 18 20 22 26 29 32 33 33 37 39 41 43 44 46 48 50 51 51 61 72 80 Rwanda 12 15 16 19 21 23 25 26 28 30 32 36 38 41 41 44 45 46 50 52 53 65 77 88 São Tomé and Príncipe 1 1 2 2 2 2 2 2 3 2 3 3 3 3 4 4 4 3 3 3 3 4 3 3 Senegal 36 34 29 36 44 46 49 55 62 68 75 82 86 88 89 93 97 101 106 110 118 130 141 147 Sierra Leone 4 5 7 9 12 13 14 14 14 15 16 16 18 21 24 25 25 24 25 25 26 27 31 32 Tanzania 68 60 69 79 93 94 97 108 115 122 140 155 167 176 189 198 211 224 237 247 270 300 332 362 Togo 2/ - - - - - - - 98 26 28 26 28 27 27 27 28 29 28 28 28 27 27 28 29 Uganda 35 34 42 55 69 75 75 80 90 98 108 120 135 144 150 154 156 161 172 178 191 210 231 236 Zambia 27 34 35 39 50 51 55 60 64 69 73 83 86 92 96 103 107 106 109 113 118 129 133 135 TOTAL 719 809 1052 870 964 1167 1164 1692 1670 1817 1588 1711 1835 1941 2043 2133 2241 2294 2425 2531 2663 2939 3235 3402 Debt Service after HIPC Initiative Debt Relief Afghanistan - - - 31 4 5 5 4 2 2 2 4 4 5 10 11 11 12 11 11 11 11 11 12 Benin 12 7 7 9 11 12 14 15 16 18 19 20 22 22 29 38 40 42 44 45 47 49 53 60 Bolivia 31 21 14 14 20 21 22 23 27 33 35 38 41 48 62 81 85 85 91 96 100 117 117 112 Burkina Faso 11 3 7 8 11 13 13 16 17 18 19 23 27 30 31 31 35 41 44 46 53 69 76 86 Burundi 13 14 16 19 20 17 2 2 4 3 3 4 4 5 6 7 6 5 5 5 5 6 6 7 Cameroon 92 86 69 58 59 57 60 22 17 20 27 28 29 30 32 30 32 36 41 44 59 74 81 84 Central African Republic 9 9 0 - - - - 13 7 6 7 7 8 8 20 20 20 19 18 18 18 18 20 21 Chad 9 11 6 7 9 16 21 18 68 26 26 28 29 31 32 21 21 20 20 21 21 23 24 26 Comoros - - - - - - - - 4 4 2 1 1 1 2 2 2 2 2 2 2 2 2 2 Congo, Dem. Rep. of - - - 28 15 26 0 12 19 22 17 17 23 34 41 38 39 37 37 37 37 44 57 65 Congo, Republic of 12 82 12 11 9 9 3 4 4 4 4 4 5 6 6 7 7 7 8 9 10 19 20 20 Côte d’Ivoire - - - - - - - - 50 97 63 69 51 34 35 42 71 82 88 91 91 102 122 119 Ethiopia 34 36 18 26 36 16 15 17 25 29 31 40 45 49 61 66 75 88 110 176 241 282 358 399 Gambia, The 4 2 2 3 3 5 6 7 4 6 6 6 7 7 7 7 10 10 10 11 11 13 14 13 Ghana 57 63 37 32 42 49 47 56 63 70 75 85 94 99 98 112 122 124 134 151 175 195 273 301 Guinea 19 11 11 14 16 19 18 22 37 32 48 49 43 25 25 26 27 25 26 27 27 57 61 63 Guinea-Bissau 5 1 0 1 2 2 2 2 3 3 3 1 2 2 2 2 2 2 2 2 2 5 5 3 Guyana 7 4 5 4 4 3 3 3 3 4 4 5 5 5 6 6 6 6 6 6 7 11 13 13 Haiti 10 4 - - 1 - 16 12 19 15 14 21 21 20 20 22 22 21 21 21 21 21 21 20 Honduras 57 46 45 45 41 92 16 18 19 22 23 31 45 48 53 64 75 80 89 100 105 121 122 122 Liberia - - - - - - - 55 4 4 4 8 4 4 4 4 5 5 6 6 6 9 13 16 Madagascar 28 17 17 21 27 29 32 36 42 47 51 57 60 63 68 71 75 77 82 85 114 122 132 137 Malawi 36 21 18 22 26 27 29 11 12 14 16 17 18 19 21 22 23 21 23 25 26 100 104 108 Mali 21 11 11 13 18 20 22 25 27 30 33 38 42 43 46 67 72 76 80 83 87 97 104 107 Mauritania 7 3 4 5 7 8 8 9 11 12 15 16 18 19 20 21 22 23 23 24 37 38 40 40 Mozambique 8 5 6 9 16 18 20 22 25 38 49 54 61 67 73 79 84 88 93 99 108 123 135 147 Nicaragua 12 7 2 3 6 7 7 8 9 12 14 15 20 21 23 24 25 25 27 29 31 36 42 47 Niger 16 8 6 8 8 7 8 10 11 12 12 14 15 17 18 19 21 22 23 25 25 61 72 80 Rwanda 12 3 2 4 6 6 3 4 5 5 6 8 9 11 11 13 14 15 17 18 20 31 43 53 São Tomé and Príncipe 1 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 Senegal 31 20 14 25 33 28 30 34 40 45 69 82 86 88 89 93 97 101 106 110 118 130 141 147 Sierra Leone 4 5 3 2 3 4 4 4 5 5 5 5 7 9 10 10 10 10 10 10 11 12 26 32 Tanzania 40 22 26 33 45 46 47 55 61 65 78 91 100 108 120 129 142 155 167 178 255 300 332 362 Togo - - - - - - - - 26 28 26 28 27 27 27 28 29 28 28 28 27 27 28 29 Uganda 26 23 28 35 42 46 46 50 58 65 72 82 95 102 108 110 113 117 129 156 191 210 231 236 Zambia 27 15 13 14 21 17 17 20 24 27 32 38 38 41 43 46 48 46 49 52 57 129 133 135 TOTAL 651 560 399 502 562 626 538 609 770 840 912 1035 1107 1150 1257 1371 1489 1550 1672 1847 2159 2663 3034 3225 37 Table AIII6B. World Bank Group Debt Service after HIPC and MDRI Debt Relief, 2000–23 (concluded) (In millions of U.S. dollars) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Actual 1/ Projected 1/ Debt Service after HIPC Initiative Debt Relief and MDRI Afghanistan - - - 31 4 5 5 4 2 2 2 3 3 4 9 11 10 11 11 11 10 10 10 12 Benin 12 7 7 9 11 12 7 2 2 2 3 3 4 4 6 8 9 12 14 15 18 19 24 30 Bolivia 31 21 14 14 20 21 12 2 3 4 4 5 7 9 12 13 15 19 24 27 30 47 47 47 Burkina Faso 11 3 7 8 11 13 8 4 5 6 6 9 11 12 13 13 17 23 26 28 28 35 41 50 Burundi 13 14 16 19 20 17 2 2 4 1 1 2 2 3 4 4 4 4 4 4 4 5 5 6 Cameroon 92 86 69 58 59 57 53 9 2 4 10 12 13 14 14 11 10 14 18 22 28 34 43 46 Central African Republic 9 9 0 - - - - 13 7 3 0 0 0 1 1 1 1 1 1 1 1 1 3 4 Chad 9 11 6 7 9 16 21 18 68 26 26 28 29 31 32 13 5 5 5 5 5 7 7 8 Comoros - - - - - - - - 4 4 2 1 1 0.1 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 Congo, Dem. Rep. of - - - 28 15 26 0 12 19 22 13 6 11 20 26 22 23 25 25 25 25 32 44 50 Congo, Republic of 12 82 12 11 9 9 3 4 4 4 2 1 1 2 2 2 2 3 3 4 5 9 10 10 Côte d’Ivoire - - - - - - - - 50 97 63 69 36 4 4 4 5 7 10 11 11 23 41 39 Ethiopia 34 36 18 26 36 16 10 6 10 12 14 21 26 29 41 46 54 73 93 103 119 153 227 269 Gambia, The 4 2 2 3 3 5 6 7 1 1 1 1 2 2 2 2 2 2 2 2 2 4 5 4 Ghana 57 63 37 32 42 49 24 9 11 12 14 20 25 29 25 37 45 54 64 79 103 121 133 141 Guinea 19 11 11 14 16 19 18 22 37 32 48 49 37 4 4 4 4 5 5 6 5 7 11 13 Guinea-Bissau 5 1 0 1 2 2 2 2 3 3 3 0 1 1 1 1 1 2 2 2 2 5 5 3 Guyana 7 4 5 4 4 3 2 0 0 0 0 0 0 0 0 0 0 1 1 1 1 2 3 3 Haiti 10 4 - - 1 - 16 12 19 10 0 0 0 - - - - - - - - - - - Honduras 57 46 45 45 41 92 9 3 3 3 4 7 9 10 12 23 30 37 46 53 58 72 73 73 Liberia - - - - - - - 55 4 4 2 4 0 0 0 1 1 2 2 2 2 5 10 13 Madagascar 28 17 17 21 27 29 18 6 8 9 10 12 15 17 21 24 27 32 35 37 38 43 53 58 Malawi 36 21 18 22 26 27 19 1 1 1 3 3 4 5 6 7 8 9 12 13 14 19 24 29 Mali 21 11 11 13 18 20 12 3 4 5 7 10 12 12 14 15 19 24 27 31 35 43 49 53 Mauritania 7 3 4 5 7 8 5 2 2 2 3 4 6 6 7 8 8 10 10 10 10 12 13 14 Mozambique 8 5 6 9 16 18 12 7 8 10 15 18 22 25 28 32 35 41 45 51 58 73 84 95 Nicaragua 12 7 2 3 6 7 4 2 3 3 4 3 7 7 9 9 10 12 13 14 14 17 23 24 Niger 16 8 6 8 8 7 4 2 2 2 2 3 5 6 6 7 9 11 13 14 14 22 32 40 Rwanda 12 3 2 4 6 6 2 2 2 2 2 4 6 7 7 9 11 13 15 15 18 29 41 51 São Tomé and Príncipe 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Senegal 31 20 14 25 33 28 16 5 6 8 11 15 18 20 20 22 25 32 35 38 45 55 66 73 Sierra Leone 4 5 3 2 3 4 4 1 1 1 1 1 2 3 3 4 4 4 4 4 5 6 9 10 Tanzania 40 22 26 33 45 46 26 11 14 16 22 29 34 40 49 57 69 88 99 110 131 157 189 220 Togo - - - - - - - - 26 28 26 0 - 0.1 0.1 0.2 0.2 0.3 0.4 0 0 0 1 2 Uganda 26 23 28 35 42 46 25 5 8 10 13 19 25 28 31 32 34 45 53 58 69 86 104 109 Zambia 27 15 13 14 21 17 9 2 4 4 5 7 8 9 10 11 12 14 16 16 19 28 33 35 TOTAL 651 560 399 502 562 626 357 236 348 352 342 371 382 364 418 453 511 633 734 813 932 1185 1465 1633 Sources: HIPC country documents, and World Bank staff estimates. 1/ From 2001 to 2017, information corresponds to debt service actually paid to the World Bank. Debt service projections from 2018 onwards are based on stocks as of end-December 2017 2/ Debt Service before HIPC Initiative Debt Relief includes accumulated arrears for Central African Republic - USD 65.9 mil, Democratic Republic of Congo -USD 328.6 mil., Côte d’Ivoire -USD 256.9 mil., Haiti-USD 52.3 mil, Liberia - USD 366.9 mil., and Togo - USD 98.0 mil. 38 Table AIII7A. Implementation of the HIPC Initiative and MDRI by the IMF (In millions of SDRs; status as of end-August 2018) HIPC Initiative Assistance MDRI Debt Relief 2/ Amount Total HIPC Disbursed into and MDRI Decision Completion MDRI Debt Relief Member Amount Committed HIPC Delivery date Point Point Trusts Delivered Umbrella Account 1/ (A) (B) (A+B) 36 Completion Point HIPCs 2,421 2,595 2,308 4,903 Afghanistan Jul. 2007 Jan. 2010 -- -- 5/ - -- Benin Jul. 2000 Mar. 2003 18 20 Jan. 2006 34 54 Bolivia Feb. 2000 Jun. 2001 62 3/ 65 Jan. 2006 155 220 Burkina Faso Jul. 2000 Apr. 2002 44 3/ 46 Jan. 2006 57 103 Burundi Aug. 2005 Jan. 2009 19 22 Jan. 2009 9 31 Cameroon Oct. 2000 Apr. 2006 29 34 Apr. 2006 149 183 Central African Republic Sep. 2007 Jun. 2009 17 18 Jul. 2009 2 20 Chad May. 2001 Apr. 2015 14 17 5/ - 17 Comoros Jul. 2010 Dec. 2012 3 3 5/ - 3 Congo, Dem. Rep. of Jul. 2003 Jul. 2010 280 331 Jul. 2010 - 331 Congo, Rep. of Mar. 2006 Jan. 2010 5 6 Jan. 2010 5 11 Côte d'Ivoire Mar. 2009 Jun. 2012 43 3/ 26 4/ 5/ - 26 Ethiopia Nov. 2001 Apr. 2004 45 47 Jan. 2006 80 126 Gambia, The Dec. 2000 Dec. 2007 2 2 Dec. 2007 7 10 Ghana Feb. 2002 Jul. 2004 90 94 Jan. 2006 220 314 Guinea Dec. 2000 Sep. 2012 28 35 5/ - 35 Guinea-Bissau Dec. 2000 Dec. 2010 9 9 Dec. 2011 0 9 Guyana Nov. 2000 Dec. 2003 57 3/ 60 Jan. 2006 32 91 Haiti Nov. 2006 Jun. 2009 2 2 5/ 6/ - 2 Honduras Jun. 2000 Apr. 2005 23 26 Jan. 2006 98 125 Liberia Mar. 2008 Jun. 2010 441 452 Jun. 2010 116 7/ 568 Madagascar Dec. 2000 Oct. 2004 15 16 Jan. 2006 128 145 Malawi Dec. 2000 Aug. 2006 33 37 Sep. 2006 15 52 Mali Sep. 2000 Mar. 2003 46 3/ 49 Jan. 2006 62 112 Mauritania Feb. 2000 Jun. 2002 35 38 Jun. 2006 30 69 Mozambique Apr. 2000 Sep. 2001 107 3/ 108 Jan. 2006 83 191 Nicaragua Dec. 2000 Jan. 2004 64 71 Jan. 2006 92 163 Niger Dec. 2000 Apr. 2004 31 34 Jan. 2006 60 94 Rwanda Dec. 2000 Apr. 2005 47 51 Jan. 2006 20 71 São Tomé and Príncipe Dec. 2000 Mar. 2007 1 1 Mar. 2007 1 2 Senegal Jun. 2000 Apr. 2004 34 38 Jan. 2006 95 133 Sierra Leone Mar. 2002 Dec. 2006 100 107 Dec. 2006 77 183 Tanzania Apr. 2000 Nov. 2001 89 96 Jan. 2006 207 303 Togo Nov. 2008 Dec. 2010 0 0 5/ - 0 Uganda Feb. 2000 May. 2000 120 3/ 122 Jan. 2006 76 198 Zambia Dec. 2000 Apr. 2005 469 508 Jan. 2006 398 907 2 Non-HIPCs 126 - 126 Cambodia Jan. 2006 57 57 Tajikistan Jan. 2006 69 69 Total 2,421 2,595 2,434 5,029 Source: International Monetary Fund. 1/ Includes interest on amounts committed under the enhanced HIPC Initiative. 2/ Excludes remaining HIPC Initiative assistance delivered. 3/ Includes commitment under the original HIPC Initiative. 4/ Côte d'Ivoire reached its decision point under the original HIPC Initiative in 1998, but did not reach its completion point under the original HIPC Initiative. Debt relief of SDR 17 million, committed to Côte d'Ivoire under the original HIPC Initiative, was therefore not delivered. 5/ Afghanistan, Comoros, Haiti, and Togo did not have MDRI-eligible credit and did not receive MDRI debt relief from the IMF. Chad, Côte d'Ivoire, and Guinea had fully repaid MDRI-eligible debt by completion point date. 6/ Haiti received from the Post-Catastrophe Debt Relief Trust SDR 178 million on July 21, 2010. 7/ Liberia received MDRI-type (beyond-HIPC) debt relief at end-June 2010, which was financed from the Liberia Administered Account. 39 Table AIII7B. IMF HIPC Initiative and MDRI Debt Relief, 1998–20181 (In millions of U.S. dollars; status as of end-August 2018) End June 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total 2018 Actual 1/ HIPC Initiative debt relief 2/ Afghanistan - - - - - - - - - - - - - - - - - - - - - - Benin - - 2.4 4.7 4.8 6.0 5.1 2.3 2.9 - - - - - - - - - - - - 28.2 Bolivia 5.5 10.7 9.7 8.6 10.4 9.7 18.8 14.4 9.0 - - - - - - - - - - - - 96.7 Burkina Faso - - 2.9 6.0 6.0 14.3 17.1 14.6 7.5 - - - - - - - - - - - - 68.3 Burundi - - - - - - - 0.1 0.1 0.1 0.1 32.9 - - - - - - - - - 33.3 Cameroon - - 1.2 1.2 0.4 0.0 5.1 1.3 39.8 - - - - - - - - - - - - 49.0 Central African Republic - - - - - - - - - - 5.5 22.7 - - - - - - - - - 28.1 Chad - - - 1.8 2.8 4.0 1.2 2.0 0.0 0.0 0.0 0.0 0.0 - - - - 11.9 - - - 23.8 Comoros - - - - - - - - - - - - - - 4.6 - - - - - - 4.6 Congo, Dem. Rep. of - - - - - 0.8 1.7 1.7 0.9 0.0 0.0 22.5 467.6 - - - - - - - - 495.2 Congo, Republic of - - - - - - - - - - 0.1 0.1 9.6 - - - - - - - - 9.7 Cote d'Ivoire - - - - - - - - - - - 7.8 7.7 7.9 17.1 - - - - - - 40.4 Ethiopia - - - 0.7 5.3 5.6 3.9 6.0 47.7 - - - - - - - - - - - - 69.2 Gambia, The - - - 0.0 0.0 0.1 0.0 0.0 0.0 3.5 - - - - - - - - - - - 3.6 Ghana - - - - 9.5 18.9 20.3 24.4 66.7 - - - - - - - - - - - - 139.9 Guinea - - - 3.1 1.2 2.2 0.4 0.0 0.0 1.1 6.5 0.1 - - 38.9 - - - - - - 53.6 Guinea Bissau - - - 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13.6 - - - - - - - - 14.3 Guyana - 7.7 8.5 10.4 7.2 9.3 13.8 11.3 19.8 - - - - - - - - - - - - 88.0 Haiti - - - - - - - - 0.0 0.1 0.2 3.3 - - - - - - - - - 3.6 Honduras - - - 1.3 4.6 0.0 5.7 13.4 13.6 - - - - - - - - - - - - 38.5 Liberia - - - - - - - - - - 17.6 10.2 642.5 - - - - - - - - 670.3 Madagascar - - - 0.9 1.9 4.1 1.7 2.6 12.9 - - - - - - - - - - - - 24.1 Malawi - - - 2.9 0.0 2.5 4.2 3.8 41.3 - - - - - - - - - - - - 54.8 Mali - - 0.7 6.7 8.9 11.3 14.0 12.4 18.6 - - - - - - - - - - - - 72.5 Mauritania - - 5.0 7.9 10.4 11.0 8.4 4.9 6.6 - - - - - - - - - - - - 54.2 Mozambique - 14.0 29.7 26.5 17.2 12.1 13.6 15.7 34.6 - - - - - - - - - - - - 163.4 Nicaragua - - - - 0.9 2.6 9.0 24.0 71.7 - - - - - - - - - - - - 108.1 Niger - - - 0.5 1.4 4.2 7.6 10.7 26.1 - - - - - - - - - - - - 50.6 Rwanda - - - 8.6 4.3 0.0 4.7 8.1 47.9 - - - - - - - - - - - - 73.6 São Tomé and Príncipe - - - - - - - - - 1.4 - - - - - - - - - - - 1.4 Senegal - - 1.9 4.3 4.4 7.2 14.8 14.9 8.2 - - - - - - - - - - - - 55.7 Sierra Leone - - - - 30.6 33.3 22.0 6.0 61.0 - - - - - - - - - - - - 152.9 Tanzania - - 15.4 19.4 20.9 17.1 16.2 10.9 39.8 - - - - - - - - - - - - 139.8 Togo - - - - - - - - - - 0.0 0.1 0.2 - - - - - - - - 0.3 Uganda 8.2 15.5 27.6 26.6 22.1 23.1 25.0 17.2 17.5 - - - - - - - - - - - - 182.8 Zambia - - - 170.4 155.1 165.5 2.4 229.0 6.1 - - - - - - - - - - - - - - - - - - 728.4 TOTAL 13.7 47.9 105.0 313.1 330.3 364.9 236.8 451.7 600.2 6.2 30.0 99.7 1,141.3 7.9 60.5 - - - - - - 3,821.1 40 Table AIII7B. IMF HIPC Initiative and MDRI Debt Relief, 1998–2018 (concluded) (In millions of US dollars; status as of end-August 2018) End June 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total 2018 Actual 1/ MDRI debt relief Afghanistan - - - - - - - - - - - - - - - - - - - - - - Benin - - - - - - - - 49.3 - - - - - - - - - - - - 49.3 Bolivia - - - - - - - - 223.7 - - - - - - - - - - - - 223.7 Burkina Faso - - - - - - - - 82.4 - - - - - - - - - - - - 82.4 Burundi - - - - - - - - - - - 13.4 - - - - - - - - - 13.4 Cameroon - - - - - - - - 219.4 - - - - - - - - - - - - 219.4 Central African Republic - - - - - - - - - - - 2.9 - - - - - - - - - 2.9 Chad - - - - - - - - - - - - - - - - - - - - - - Comoros - - - - - - - - - - - - - - - - - - - - - - Congo, Dem. Rep. of - - - - - - - - - - - - - - - - - - - - - - Congo, Republic of - - - - - - - - - - - - 7.5 - - - - - - - - 7.5 Côte d’Ivoire - - - - - - - - - - - - - - - - - - - - - - Ethiopia - - - - - - - - 115.1 - - - - - - - - - - - - 115.1 Gambia, The - - - - - - - - - 11.6 - - - - - - - - - - - 11.6 Ghana - - - - - - - - 317.9 - - - - - - - - - - - - 317.9 Guinea - - - - - - - - - - - - - - - - - - - - - - Guinea Bissau - - - - - - - - - - - - - - - - - - - - - - Guyana - - - - - - - - 45.6 - - - - - - - - - - - - 45.6 Haiti 3/ - - - - - - - - - - - - - - - - - - - - - - Honduras - - - - - - - - 141.9 - - - - - - - - - - - - 141.9 Liberia 4/ - - - - - - - - - - - - 171.9 - - - - - - - - 171.9 Madagascar - - - - - - - - 185.6 - - - - - - - - - - - - 185.6 Malawi - - - - - - - - 21.6 - - - - - - - - - - - - 21.6 Mali - - - - - - - - 90.2 - - - - - - - - - - - - 90.2 Mauritania - - - - - - - - 44.5 - - - - - - - - - - - - 44.5 Mozambique - - - - - - - - 120.0 - - - - - - - - - - - - 120.0 Nicaragua - - - - - - - - 132.6 - - - - - - - - - - - - 132.6 Niger - - - - - - - - 86.4 - - - - - - - - - - - - 86.4 Rwanda - - - - - - - - 29.1 - - - - - - - - - - - - 29.1 São Tomé and Príncipe - - - - - - - - - 1.6 - - - - - - - - - - - 1.6 Senegal - - - - - - - - 136.9 - - - - - - - - - - - - 136.9 Sierra Leone - - - - - - - - 115.2 - - - - - - - - - - - - 115.2 Tanzania - - - - - - - - 299.0 - - - - - - - - - - - - 299.0 Togo - - - - - - - - - - - - - - - - - - - - - - Uganda - - - - - - - - 109.6 - - - - - - - - - - - - 109.6 Zambia - - - - - - - - 575.7 - - - - - - - - - - - - 575.7 - - - - - - - - - To non-HIPCs - - - - - - - - - Cambodia - - - - - - - - 82.1 - - - - - - - - - - - - 82.1 Tajikistan - - - - - - - - 100.1 - - - - - - - - - - - - 100.1 - - - - - - - - - TOTAL - - - - - - - - 3,324.0 13.2 - 16.4 179.3 - - - - - - - - 3,532.9 Source: International Monetary Fund. 1/ The figures in this table were converted from SDR amounts using annual average US$/SDR exchange rates for the HIPC disbursements and the exchange rate on the date of delivery of final debt relief disbursement. 2/ Includes also interest earned both on the commitment amount in PRG-HIPC Trust and on the amount in HIPC Umbrella Account. 3/ Haiti also received from the Post-Catastrophe Debt Relief Trust SDR 178 million on July 21, 2010. 4/ Liberia received MDRI-type (beyond-HIPC) debt relief of SDR 116.2 million at end-June 2010 financed from the Liberia Administered Account; equivalent to US$171.9 million on June 30, 2010. 41 Table AIII8A. Status of Delivery of HIPC Initiative and MDRI Assistance by the African Development Bank (AfDB) Group (In millions of U.S. dollars; status as of end-August 2018) Assistance under the MDRI Total Committed Total Delivered AfDB Group Assistance under the HIPC Initiative (AfDF only) Assistance Assistance under the HIPC under the HIPC Committed Delivered Delivered Delivered Initiative and Initiative and Committed Assistance in PV Assistance in end- Assistance in Assistance in MDRI in end-2017 MDRI in end- Assistance in end- Terms as of 2017 PV Terms Nominal Terms end-2017 PV PV Terms 2017 PV Terms 2017 PV Terms Decision Point 1/ 2/ Terms (I) (II) (III) (IV) (V) (II) + (V) (III) + (V) 30 Post-Completion-Point HIPCs 3/ TOTAL 3,781.0 5,055.9 4,334.6 7,690.7 6,309.8 11,365.7 10,644.4 Benin 37.6 52.6 50.8 357.1 307.1 359.7 357.9 Burkina Faso 81.9 114.6 97.9 344.7 278.9 393.5 376.8 Burundi 150.2 190.4 86.7 11.0 5.4 195.8 92.1 Cameroon 78.8 110.3 107.3 220.0 177.3 287.6 284.5 Central African Republic 84.7 105.3 39.6 93.1 80.0 185.3 119.6 Chad 37.0 50.7 29.6 219.7 170.6 221.3 200.2 Côte d’Ivoire 4/ 204.5 244.4 228.2 259.7 201.2 445.6 429.4 Congo, Dem. Rep. of 1,009.7 1,331.8 1,492.2 143.4 111.2 1,443.0 1,603.4 Congo, Republic of 4/ 40.0 50.7 50.7 9.0 8.4 59.1 59.1 Comoros 34.4 40.3 40.3 29.9 26.6 66.9 66.9 Ethiopia 331.2 454.5 359.1 746.1 594.9 1,049.4 953.9 Gambia, The 15.8 22.1 21.3 158.4 134.3 156.4 155.5 Ghana 131.2 180.0 166.9 496.0 413.8 593.8 580.7 Guinea 94.4 132.1 76.1 137.4 102.6 234.6 178.7 Guinea-Bissau 72.4 103.3 61.3 49.6 37.5 140.8 98.9 Liberia 4/ 237.2 283.4 283.4 18.8 17.4 300.8 300.8 Madagascar 60.1 84.1 79.4 377.2 317.0 401.0 396.3 Malawi 119.5 167.2 120.2 277.5 218.9 386.1 339.1 Mali 69.1 96.7 91.8 558.7 481.4 578.1 573.2 Mauritania 72.8 101.9 95.9 256.0 217.0 318.8 312.8 Mozambique 149.5 209.3 30.4 552.8 453.3 662.6 483.7 Niger 47.9 67.1 47.7 189.8 150.6 217.7 198.3 Rwanda 108.5 151.9 97.9 101.8 81.2 233.1 179.1 São Tomé and Príncipe 40.8 57.1 33.3 32.1 24.2 81.3 57.5 Senegal 56.9 79.6 75.2 404.5 344.6 424.2 419.9 Sierra Leone 43.4 58.4 40.7 144.2 114.3 172.7 155.1 Tanzania 124.9 174.8 164.9 621.7 507.8 682.6 672.6 Togo 4/ 17.9 21.4 21.4 115.3 99.1 120.6 120.6 Uganda 82.6 115.6 77.5 527.3 440.4 556.0 517.9 Zambia 146.1 204.5 166.8 238.0 193.0 397.5 359.8 Total Debt Relief Committed 3,781.0 5,055.9 4,334.6 7,690.7 6,309.8 11,365.7 10,644.4 Sources: African Development Bank Group, World Bank and IMF staff estimates. 1/ Total delivered enhanced HIPC assistance to end 2017. 2/ Nominal MDRI costs include principal and interest foregone. 3/ Includes only HIPCs that owe debt to AfDB Group. 4/ The total amount of HIPC Initiative debt relief has been provided through an arrears clearance operation in Congo, Rep. of in 2004; Côte d’Ivoire in 2009; Liberia in 2007; Togo in 2008. 42 Table AIII8B. AfDB Group Debt Service after HIPC Initiative and MDRI Debt Relief, 2000-22 (In millions of U.S. dollars) 2000 2001 2002 2003 2004 Total 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 HIPC Actuals Projected Debt service before HIPC Initiative Debt Relief Benin 5 4 8 7 9 9 12 6 6 10 14 15 16 17 15 15 16 23 17 17 19 19 20 Burkina Faso 8 4 10 9 9 8 11 6 7 8 10 10 11 11 11 12 13 15 15 15 16 22 23 Burundi 0 - - 3 29 18 6 7 7 1 1 1 1 1 - 0 0 1 0 0 0 0 0 Central African Republic - - 0 - - - - 49 5 3 2 2 2 1 1 1 1 1 4 5 5 5 5 Cameroon 47 25 63 41 40 38 38 28 28 29 16 29 12 12 10 12 11 18 15 17 19 20 22 Chad 3 1 7 6 3 10 7 9 9 11 12 12 13 13 12 8 5 6 5 6 6 7 14 Comoros - - - - - 1 0.2 22 8 6 1 1 5 2 1 1 1 1 1 1 1 1 1 Congo, Democratic Republic of - - 65 73 42 118 121 128 142 156 153 184 174 162 151 110 168 115 160 108 105 102 98 Congo, Republic of 1/ 7 - 0 33 148 55 27 19 13 13 0 11 11 10 9 1 1 1 1 1 1 3 3 Côte d'Ivoire 0 46 197 0 1 - - 58 102 598 44 36 29 11 10 5 5 8 8 8 9 9 12 Ethiopia 45 34 46 46 49 49 50 33 33 23 22 28 25 24 19 25 23 31 29 31 32 38 61 Gambia, The 3 3 3 3 4 4 4 5 4 3 4 4 4 5 7 7 7 7 7 7 8 8 8 Ghana 31 16 37 29 30 32 40 24 24 15 14 19 16 25 25 25 26 29 30 34 33 37 41 Guinea 24 18 26 22 53 18 18 18 17 18 17 19 14 5 3 4 3 4 4 4 4 4 5 Guinea-Bissau - 4 4 4 4 4 4 4 4 5 6 1 1 1 1 1 1 2 1 1 1 1 1 Madagascar 13 10 14 12 10 9 13 7 7 9 10 13 9 13 16 16 18 19 19 19 20 21 21 Malawi 10 7 10 11 12 12 12 6 7 7 7 8 6 6 5 6 5 6 6 7 7 8 8 Mali 7 6 14 9 13 14 20 9 10 12 16 24 25 29 24 24 24 26 28 29 30 30 32 Mauritania 12 8 12 12 12 13 18 14 13 14 14 19 24 10 9 9 9 11 10 10 11 11 11 Mozambique 3 6 7 7 8 7 13 8 9 11 13 26 20 23 21 23 22 28 26 29 30 34 35 Niger 1 2 3 3 5 5 10 4 4 5 4 4 5 5 5 5 5 6 6 7 7 7 8 Liberia - - - - - 0 0 149 98 12 3 3 3 3 2 2 1 2 1 1 1 2 2 Rwanda 6 4 8 7 8 9 11 4 4 5 5 5 6 6 5 6 6 8 7 8 9 9 10 São Tomé and Príncipe 1 1 2 2 2 2 2 3 1 1 1 1 1 1 0 0 0 1 0 0 1 1 1 Senegal 25 14 31 24 26 26 29 25 26 28 29 36 17 17 16 16 16 21 18 21 22 24 27 Sierra Leone 2 2 3 4 5 5 6 5 2 3 3 3 3 4 4 4 4 4 4 4 4 5 5 Tanzania 11 8 12 15 16 16 21 11 13 15 16 18 20 22 18 24 23 33 44 46 49 51 55 Togo 0 1 - - - - - - 22 4 4 4 5 5 4 4 4 5 4 5 5 5 5 Uganda 7 5 9 10 12 12 19 9 9 11 12 19 21 25 23 26 25 31 29 32 34 36 38 Zambia 31 24 24 26 27 26 28 17 12 11 10 10 9 9 7 8 8 10 9 10 12 14 15 TOTAL 302 251 616 418 578 521 541 684 648 1,047 463 563 507 479 434 401 452 474 509 484 500 533 586 Debt service after HIPC Initiative debt relief 2/ Benin 3 - 3 2 3 4 6 0 1 7 14 15 16 17 15 15 16 23 17 17 19 19 20 Burkina Faso 4 - 3 2 3 3 6 0 1 2 4 4 5 5 4 6 7 9 9 10 11 22 23 Burundi 0 - - 3 29 15 0 0 1 - - - - - - - - - - - - - - Central African Republic - - 0 - - - - 49 1 - - - - - - - - - - 5 1 5 5 Cameroon 44 13 52 35 40 38 27 10 13 15 10 27 12 12 10 12 11 18 15 17 19 20 22 Chad 3 - 3 2 - 7 7 9 9 11 12 12 13 13 12 4 - - - - - - 14 Comoros - - - - - 1 0 22 8 - 1 1 5 2 1 1 1 1 1 1 1 1 1 Congo, Democratic Republic of - - 65 72 - 19 10 13 24 36 31 61 50 39 28 - 48 5 59 11 11 72 75 Congo, Republic of 1/ 7 - 0 33 106 55 27 19 13 13 0 11 11 10 9 1 1 1 1 1 1 3 3 Côte d'Ivoire 0 46 197 0 1 - - 58 102 399 44 36 29 11 10 5 5 8 8 8 9 9 12 Ethiopia 45 34 15 16 19 20 21 5 6 3 2 8 5 3 - 4 3 11 8 10 12 22 61 Gambia, The 3 0 1 1 4 4 4 5 2 0 1 1 1 4 7 7 7 7 7 7 8 8 8 Ghana 31 16 19 8 10 13 22 8 8 4 7 12 9 23 25 25 26 29 30 34 33 37 41 Guinea 24 7 15 12 53 18 18 18 6 18 17 19 14 - - - - - - - - - - Guinea-Bissau - - - 0 1 1 1 3 1 - - - - - - - - - - - - - - Madagascar 13 1 5 5 10 4 7 1 1 2 3 6 2 10 16 16 18 19 19 19 20 21 21 Malawi 10 - 3 4 5 12 12 - - - - - - - - - - - - - - - - Mali 5 - 5 1 5 6 11 0 1 2 9 24 25 29 24 24 24 26 28 29 30 30 32 Mauritania 5 - 3 3 4 5 10 6 5 6 6 16 24 10 9 9 9 11 10 10 11 11 11 Mozambique 2 4 5 5 5 4 11 5 6 7 10 26 20 23 21 23 22 28 26 29 30 34 35 Niger 1 - 1 1 2 2 7 0 0 1 1 1 1 1 1 1 1 2 2 2 2 3 4 Liberia - - - - - 0 0 - 98 12 3 3 3 3 2 2 1 2 1 1 1 2 2 Rwanda 6 - 2 2 3 5 4 - - - - - - - - - - - - - 1 1 2 São Tomé and Príncipe 1 - 1 0 1 1 1 1 - - - - - - - - - - - - - - - Senegal 20 6 23 20 11 8 20 25 26 28 29 36 17 17 16 16 16 21 18 21 22 24 27 Sierra Leone 2 2 2 1 2 2 3 2 - - - - - 0 - - 0 0 0 1 1 1 1 Tanzania 6 - 4 5 6 7 11 1 2 4 5 6 8 9 5 11 10 23 44 46 49 51 55 Togo 0 1 - - - - - - 5 4 4 4 5 5 4 4 4 5 4 5 5 5 5 Uganda 3 - 3 4 5 5 12 1 3 4 5 12 18 25 23 26 25 31 29 32 34 36 38 Zambia 31 2 5 7 27 17 10 3 3 2 2 4 2 3 1 2 2 4 4 4 6 8 9 TOTAL 271 130 437 243 356 274 269 265 346 582 221 344 295 273 244 216 258 287 341 320 335 444 526 43 Table AIII8B. AfDB Group Debt Service after HIPC Initiative and MDRI Debt Relief, 2000-22 (concluded) (In millions of U.S. dollars) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Actuals Projected Debt service after HIPC Initiative debt relief and MDRI Benin 3 - 3 2 3 4 4 - - 1 4 4 5 5 5 5 5 12 6 7 8 8 9 Burkina Faso 4 - 3 2 3 3 4 - - - - - - - - 1 1 3 3 3 4 10 10 Burundi 0 - - 3 29 15 0 0 1 - - - - - 1 1 1 1 1 1 0 0 0 Central African Republic - - 0 - - - - 49 1 - - - - - - - - - - 0 - 0 0 Cameroon 44 13 52 35 40 38 26 8 11 13 8 23 7 8 6 8 7 14 11 11 13 14 15 Chad 3 - 3 2 - 7 7 9 9 11 12 12 13 13 12 3 - - - - - - 3 Comoros - - - - - 1 0 22 8 - 1 1 5 0 - - - - - - - - - Congo, Democratic Republic of - - 65 72 - 19 10 13 24 36 30 58 48 36 26 - 46 3 57 9 9 70 73 Congo, Republic of 1/ 7 - 0 33 106 55 27 19 13 13 - 11 10 10 9 0 0 1 0 0 0 2 3 Côte d'Ivoire 0 46 197 0 1 - - 58 102 399 44 36 26 5 5 0 0 3 2 2 2 2 4 Ethiopia 45 34 15 16 19 20 15 - - - - - - - - - - 2 - 0 2 8 29 Gambia, The 3 0 1 1 4 4 4 5 - - - - - - 2 2 2 2 2 2 2 2 2 Ghana 31 16 19 8 10 13 16 1 1 - - 4 1 8 10 12 13 16 16 19 20 23 26 Guinea 24 7 15 12 53 18 18 18 6 18 17 19 14 - - - - - - - - - - Guinea-Bissau - - - 0 1 1 1 3 1 - - - - - - - - - - - - - - Madagascar 13 1 5 5 10 4 4 - - - - 1 - 1 4 5 6 8 7 7 8 8 8 Malawi 10 - 3 4 5 12 12 - - - - - - - - - - - - - - - - Mali 5 - 5 1 5 6 7 - - - - 6 7 10 7 7 7 10 10 11 12 12 13 Mauritania 5 - 3 3 4 5 9 4 3 3 3 9 16 2 2 2 2 3 2 2 2 2 3 Mozambique 2 4 5 5 5 4 7 0 1 2 3 14 9 11 9 11 10 15 11 14 15 17 18 Niger 1 - 1 1 2 2 5 - - - - - - - - - - - - - - - 0 Liberia - - - - - 0 0 - 98 12 2 2 2 2 2 1 0 1 1 1 1 1 1 Rwanda 6 - 2 2 3 5 2 - - - - - - - - - - - - - - - 0 São Tomé and Príncipe 1 - 1 0 1 1 1 1 - - - - - - - - - - - - - - - Senegal 20 6 23 20 11 8 16 17 17 19 19 25 5 6 6 6 7 11 7 10 11 13 15 Sierra Leone 2 2 2 1 2 2 2 - - - - - - - - - - - - - - - - Tanzania 6 - 4 5 6 7 7 - - - - - 0 1 - 4 3 13 22 24 26 28 31 Togo 0 1 - - - - - - 5 4 4 0 1 0 0 0 0 1 0 0 0 0 0 Uganda 3 - 3 4 5 5 8 - - - - 6 6 10 8 12 10 16 14 16 19 20 22 Zambia 31 2 5 7 27 17 8 0 - - - - - - - - - 0 - 0 1 3 4 TOTAL 271 130 437 243 356 274 221 228 302 530 148 232 174 128 112 81 120 134 172 140 155 245 293 Sources: African Development Bank Group. 1/ The total amount of HIPC Initiative debt relief has been provided through arrears clearance operation. 2/ Weighted by each country's share in total debt service before HIPC. 44 Table AIII9. Status of Delivery of HIPC and IaDB Initiatives Assistance by the Inter-American Development Bank (IaDB) (In millions of U.S. dollars; status as of end-August 2018) IaDB 2007 Debt Initiative Total Committed Total Delivered IaDB Assistance under the HIPC Initiative (MDRI equivalent) Assistance Assistance under the HIPC under the HIPC Committed Committed Delivered Delivered Delivered Initiative and Initiative and Assistance in PV Assistance in Assistance in Assistance in Assistance in 2007 Initiative in 2007 Initiative in Terms as of end-2017 PV end-2017 PV Nominal Terms end-2017 PV end-2017PV end-2017 PV Decision Point Terms Terms 1/ 2/ Terms Terms Terms (I) (II) (III) (IV) (V) (II) + (IV) (III) + (V) 5 Post-Completion-Point HIPCs 3/ TOTAL 1,183.0 1,646.2 1,343.9 4,369.0 3,987.3 5,633.5 5,331.2 Bolivia 477.1 667.7 437.7 1,050.2 939.5 1,607.2 1,377.2 Haiti 60.4 75.1 63.3 492.3 470.2 545.2 533.5 Honduras 133.8 187.2 193.9 1,367.1 1,285.7 1,472.9 1,479.6 Guyana 120.5 168.7 93.5 469.9 434.0 602.7 527.5 Nicaragua 391.2 547.6 555.5 989.5 857.9 1,405.4 1,413.4 Total Debt Relief Committed 1,183.0 1,646.2 1,343.9 4,369.0 3,987.3 5,633.5 5,331.2 Sources: Inter-American Development Bank, World Bank and IMF staff estimates. 1/ Total delivered enhanced HIPC assistance to end 2017. 2/ Nominal IaDB-07 Initiative costs include principal and interest foregone. 3/ Includes only HIPCs that owe debt to IaDB. 45 Table AIII10. Status of Donor Contributions to the Debt Relief Trust Fund (In millions of U.S. dollars, status as of end-August 2018) Accumulated Resources Allocated Bilateral Resources Available Investment for Debt Relief Donors Contributed Balance Income Grants Australia 13 2 (15) 0 Austria1 96 5 (99) 2 1,2 Belgium 59 4 (60) 2 2,4 Canada 195 50 (224) 21 Denmark 72 0 (66) 6 EU 953 70 (1,022) 0 2,3 Finland 98 16 (97) 17 France2,3,4 101 11 (102) 10 1,2,3,4,6 Germany 195 20 (214) 1 Greece 5 2 (7) 1 Iceland 3 0 (3) 0 2,3 Ireland 27 7 (31) 3 Italy2,3 99 7 (100) 6 2,3 Japan 258 54 (241) 71 Korea 10 1 (11) 0 Luxembourg 1 0 (1) 0 1,2,3 Netherlands 509 26 (520) 15 New Zealand 2 0 (2) 0 Norway1 368 49 (391) 25 Portugal 15 1 (16) 0 Russia 25 6 (27) 4 2 Spain 125 7 (125) 7 2,3 Sweden 105 22 (119) 8 Switzerland2,3 100 25 (114) 10 United Kingdom3,5 423 5 (428) 0 6 United States 675 15 (688) 2 Sub-Total 4,530 405.3 (4,722) 213 Multilateral Donors IBRD 2,330 202 (2,532) 0 NDF 31 1 (31) 1 BOAD 1 0 (2) 0 Sub-Total 2,362 202 (2,564) 1 TOTAL 6,893 608 (7,286) 214 46 Table AIII11. HIPC Initiative: Cost Estimates to Paris Club Official Bilateral Creditors by Creditor Country1/ (In millions of U.S. dollars, in end-2017 PV terms) United States Luxembourg administered South Africa Netherlands Switzerland EEC Loans Trinidad & Kingdom Australia Denmark Germany Belgium Portugal Norway Sweden Finland Tobago Canada Austria Ireland United France Russia Brazil Japan Spain Israel IDA- Italy Total 36 Post-Decision-Point HIPCs 1/ 1/ 2/ 1/ 1/ 1/ Afghanistan - - - - - - - - 9 - - - - - - - - 462 - - - - - - 44 - 515 Benin - - 1 - 0 - - 37 2 - - 14 12 - 5 14 - 2 - - - - - 2 0 - 89 Bolivia - 14 31 - 2 1 - 26 137 - - 29 202 - 12 - - - - 62 1 - - 13 32 - 561 Burkina Faso - 2 - - - - - 15 - - - 4 - - 3 - - 1 - 6 - - - 1 - - 32 Burundi - 4 0 - - 0 - 72 0 - - 0 32 - 0 - - 3 - - - - - 0 - - 112 Central African Republic - 3 - - - - - 9 3 - - 4 2 - - 0 - 1 - - - 12 - 1 7 0 41 Cameroon - 101 47 - 48 22 0 586 202 - - 49 13 - 10 - - - - 34 18 12 - 50 18 - 1,212 Chad - 0 - - - - - 15 0 - - 2 - - 0 - - 0 - 2 - - - - - - 20 Comoros - - - - - - - 9 - - - 0 - 0 - - - - - - - - - - - 0 10 Congo, Dem. Rep. of - 48 647 2 28 - - 1,097 468 - - 553 646 - 220 12 - - - 17 74 11 - 109 1,437 3 5,373 Congo, Republic of - - 14 41 14 0 - 681 53 0 - 59 - 0 0 - - 41 - 73 - 4 - 65 15 - 1,060 Côte d'Ivoire - 13 31 4 41 - - 1,108 98 - - 20 47 - 42 9 - - - 70 - 3 - 24 89 - 1,601 Ethiopia 4 4 1 - 0 - 1 3 37 - - 84 12 - 1 - - 471 - 10 14 - - 7 46 - 694 Gambia, The - 3 - - - - - 2 - - - - - - 1 1 - - - - - - - - - - 7 Ghana - 19 1 - 14 - 5 69 87 - - 23 678 - 60 - - - - 34 21 - - 98 26 - 1,136 Guinea - 2 2 2 - - - 124 1 - - 13 46 - - 5 - 29 - 4 - - - 1 33 0.4 263 Guinea-Bissau - - 4 9 - - - 6 2 - - 99 - - - - - 14 - 9 - - - - - - 143 Guyana - - - - 1 1 - 1 9 - - - 1 - 6 - - 3 - - - - 153 66 16 - 257 Haiti - - - - 0 - - 9 - - - 5 - - - - - - - 3 - - - - 2 0 18 Honduras - - - - 2 2 - 7 10 - - 21 131 - 3 0 - - - 42 - 1 - - 17 - 236 Liberia - - 44 - - 31 2 210 228 - - 68 88 - 38 15 - - - - 10 3 - 17 271 1 1,026 Madagascar - 11 10 - 9 - - 129 25 - 0 42 194 - - - - 72 - 36 4 2 - 9 7 - 548 Malawi - 10 - - - - - 6 0 - - - 162 - - - - - - 4 - - - 16 - 1 198 Mali - - - - - - - 90 - - - 0 37 - 1 - - 28 - - - - - 3 0 - 159 Mauritania - 29 - 11 - - - 73 2 - - 0 41 - 14 - - - - 17 - - - 4 2 - 192 Mozambique - 10 - 125 - - - 280 119 - - 265 81 - - - 241 219 - 30 5 - - 77 27 - 1,480 Nicaragua 1 1 - 43 - - 8 47 309 - 1 57 144 - 25 - - 351 - 191 - - - 1 37 - 1,217 Niger - - - - - - - 107 - - - - 20 - - - - - - 8 - - - 9 5 - 150 Rwanda - 3 - - 3 - - 30 - - - - 13 - - - - - - - - - - - 1 - 48 São Tomé and Príncipe - - 1 - - - - 4 5 - - 6 - - - - - 1 - 3 - - - - - - 20 Senegal - - 2 - 1 5 - 70 21 - - 21 28 - 3 6 - - - 13 0 - - 0 6 - 177 Sierra Leone - 0 11 - - 0 - 18 10 0 - 41 97 0 20 7 - - - - - 11 - 9 47 - 273 Tanzania - 16 73 99 22 - - 77 46 - - 92 449 - 48 5 - 83 - 7 - - - 89 8 - 1,114 Togo - 4 19 - - - - 34 6 - - 1 17 - 4 - - - - 7 1 20 - 6 - 0 121 Uganda - 16 - - - - 2 16 1 - 6 48 36 - - 0 - - - 29 - - - 10 0 - 166 Zambia - 5 - 34 35 - - 97 276 - - 49 698 - 0 - - 64 - - - - - 148 119 2 1,526 Total 6 318 940 369 220 61 19 5,166 2,166 0 8 1,670 3,926 0 517 74 241 1,842 - 711 149 79 153 837 2,315 8 21,795 Sources: HIPC country documents, World Bank and IMF staff estimates. 1/ Creditor invited on a case-by-case basis to participate in some Paris Club agreements. 2/ Not a Paris Club member. In some cases, IDA-administered European Economic Commission (EEC) loans (which are treated as Paris Club debt) are apportioned among EEC members. Amounts listed for Luxembourg correspond to its portion of such EEC loans. 47 Table AIII12. Debt Relief Committed and Delivered by Paris Club Official Bilateral Creditors (In millions of U.S. dollars, in end-2017 PV terms) Debt Relief HIPC Initiative HIPC Initiative Debt Relief Beyond Total Debt Provided-to-Debt Debtor Country Assistance Assistance HIPC Initiative Relief Provided Relief Committed Committed * Provided Provided (in percent) 36 Post-Completion-Point HIPCs Afghanistan 514.9 514.9 682.4 1197.3 232.5 Benin 89.2 89.2 … 89.2 100.0 Bolivia 561.5 561.5 … 561.5 100.0 Burkina Faso 32.2 32.2 25.5 57.7 179.3 Burundi 111.9 111.9 5.6 117.5 105.0 Cameroon 1211.6 1211.6 3897.5 5109.1 421.7 Central African Republic 40.6 40.6 7.5 48.1 118.6 Chad 19.7 19.7 43.9 63.7 322.5 Congo, Democratic Republic of 5372.8 5372.8 1500.3 6873.1 127.9 Congo, Republic of 1059.2 1059.2 1633.1 2692.3 254.2 Comoros 9.5 9.5 0.6 10.1 105.8 Côte d'Ivoire 1601.1 1601.1 5279.6 6880.7 429.7 Ethiopia 693.9 693.9 234.5 928.4 133.8 Gambia, The 6.7 6.7 … 6.7 100.0 Guinea 263.7 263.7 332.9 596.6 226.3 Guinea-Bissau 143.6 143.6 31.4 175.0 121.9 Ghana 1135.5 1135.5 698.5 1834.0 161.5 Guyana 257.2 257.2 43.5 300.7 116.9 Haiti 18.5 18.5 83.6 102.1 550.7 Honduras 236.0 236.0 1099.9 1335.9 566.0 Liberia 1025.7 1025.7 124.1 1149.8 112.1 Madagascar 548.4 548.4 664.7 1213.1 221.2 Malawi 197.7 197.7 270.8 468.5 237.0 Mali 159.3 159.3 … 159.3 100.0 Mauritania 192.1 192.1 23.3 215.3 112.1 Mozambique 1479.5 1479.5 … 1479.5 100.0 Nicaragua 1217.3 1217.3 186.5 1403.8 115.3 Niger 150.0 150.0 62.8 212.9 141.9 Rwanda 48.4 48.4 9.9 58.3 120.5 São Tomé and Príncipe 20.2 20.2 0.7 21.0 103.7 Senegal 176.5 176.5 440.3 616.8 349.4 Sierra Leone 272.8 272.8 27.4 300.2 110.0 Tanzania 1114.5 1114.5 … 1114.5 100.0 Togo 120.8 120.8 473.2 594.0 491.7 Uganda 166.0 166.0 … 166.0 100.0 Zambia 1525.7 1525.7 505.5 2031.2 133.1 TOTAL 21,794.4 21,794.4 18,389.7 40,184.1 184.4 Sources: Paris Club, HIPC country documents, HIPC country authorities, and World Bank and IMF staff estimates. * Differences between committed amounts and Table 11 total is due to differences in reporting of IDA-administered EEC loans. 48 Table AIII13. Paris Club Official Bilateral Creditors' Delivery of Debt Relief under Bilateral Initiatives beyond the HIPC Initiative1/ Countries Covered ODA (In percent) Non-ODA (In percent) Provision of Relief Pre-cutoff Date Post-cutoff Date Pre-cutoff Date Post-cutoff Date Debt Debt Debt Debt Decision Point Completion Point (In percent) (1) (2) (3) (4) (5) (6) (7) Australia HIPCs 100 100 100 100 2/ 2/ 2/ Austria HIPCs 100 100 Case-by-case, flow Stock Belgium HIPCs 100 100 3/ 100 100 flow Stock Canada HIPCs 100 100 100 100 100 flow Stock Denmark HIPCs 100 100 4/ 100 100 4/ 100 flow Stock France HIPCs 100 100 100 100 flow 5/ Stock Finland HIPCs 100 6/ 100 6/ Germany HIPCs 100 100 100 100 7/ 100 flow Stock Ireland - Italy HIPCs 100 100 8/ 100 100 8/ 100 flow Stock Japan HIPCs 100 100 100 - Stock Netherlands, the HIPCs 100 9/ 100 100 90-100 flow 9/ Stock Norway HIPCs 10/ 10/ 11/ 11/ Russia HIPCS 12/ 12/ 100 19/ 100 19/20/ Stock Spain HIPCs 100 100 13/ 100 100 13/ Stock Sweden HIPCs 14/ 100 Stock Switzerland HIPCs 15/ 15/ 100 16/ 100 flow 16/ Stock United Kingdom HIPCs 100 100 100 100 17/ 100 flow 17/ Stock United States 18/ HIPCs 100 100 100 100 100 flow Stock Source: Paris Club Secretariat. 1/ Columns (1) to (7) describe the additional debt relief provided following a specific methodology under bilateral initiatives and need to be read as a whole for each creditor. In column (1), "HIPCs" stands for eligible countries effectively qualifying for the HIPC process. A "100 percent" mention in the table indicates that the debt relief provided under the enhanced HIPC Initiative framework will be topped up to 100 percent through a bilateral initiative. 2/ Australia: Australia cancelled all HIPC claims. 3/ Belgium: cancellation at completion point 100 percent of ODA loans contracted before December 31, 2000. 4/ Denmark provides 100 percent cancellation of ODA loans and non-ODA credits contracted and disbursed before September 27, 1999. 5/ France: cancellation of 100 percent of debt service on pre-cutoff date commercial claims on the government as they fall due starting at decision point. Once countries have reached completion point, debt relief on ODA claims on the government will go to a special account and will be used for specific development projects. 6/ Finland: no post-Cutoff date claims 7/ If not treated in the Agreed Minutes at Completion Point, debt cancellation of 100 % only on a case by case basis. 8/ Italy: cancellation of 100 percent of all debts (pre- and post-cutoff date, ODA and non-ODA) incurred before June 20,1999 (the Cologne Summit). At decision point, cancellation of accrued arrears and maturities falling due in the interim period. At completion point, cancellation of the stock of remaining debt. 9/ The Netherlands: 100 percent ODA (pre- and post-cutoff date debt will be cancelled at decision point); for non-ODA: in some particular cases (Benin, Bolivia, Burkina Faso, Ethiopia, Ghana, Mali, Mozambique, Nicaragua, Rwanda, Tanzania, Uganda and Zambia), the Netherlands will write off 100 percent of the consolidated amounts on the flow at decision point; all other HIPCs will receive interim relief up to 90 percent reduction of the consolidated amounts. At completion point, all HIPCs will receive 100 per cent cancellation of the remaining stock of the pre-cutoff date debt. 10/ Norway has cancelled all ODA claims. 11/ Due to the current World Bank/IMF methodology for recalculating debt reduction needs at HIPC completion point, Norway has postponed the decisions on whether or not to grant 100% debt reduction until after HIPCs' completion point. 12/ Russia has no ODA claims 13/ Spain provides 100 percent cancellation of ODA and non-ODA claims contracted before January 1, 2004 14/ Sweden has no ODA claims. 15/ Switzerland has cancelled all ODA claims. 16/ Switzerland usually writes off 100 percent of government-owned claims of the remaining debt stock at Completion Point and provides at least full HIPC debt relief of claims held by the ECA (100% cancellation of all remaining claims with the exception of Honduras and Cameroon). 17/ United Kingdom: "beyond 100 percent" full write-off of all debts of HIPCs as of their decision points, and reimbursement at decision point of any debt service paid before the decision point. 18/ United States: cancellation of 100 percent of all debts (pre- and post-cutoff date, ODA and non-ODA) incurred before June 20, 1999 (the Cologne Summit). At decision point, cancellation of accrued arrears and maturities falling due in the interim period. At completion point, cancellation of the stock of remaining eligible debt. 19/ 100% debt relief provides for countries reached Completion Point before December 31, 2006 as of December 21, 2006 and for countries reached Completion Point after December 31, 2006 as of date of Completion Point. No payments are expected from debtors from those dates. 20/ Exception is short term debt category 49 Table AIII14. HIPC Initiative: Cost Estimates to Non-Paris Club Official Bilateral Creditors by Creditor Country1/ (In millions of U.S. dollars, in end-2017 PV terms) Non-Paris Club Official Bilateral Creditors & Montenegro Former Serbia Congo, Dem. Cote d'Ivoire Cape Verde Costa Rica Guatemala Cameroon Argentina Colombia Honduras Republic Hungary Bulgaria Ecuador Burundi Jamaica Algeria Angola Kuwait Croatia Czech Brazil Egypt China Libya Israel Cuba India Rep. Iran Iraq 36 Post-Decision-Point HIPCs 2/ Afghanistan - - - - 10 - - - - - - - - 0 - - - - - - - - - 2 2 - - 4 - Benin - - 3 - - - - - 6 - 0 - - - - - - - - - - - - - - - - 7 0 Bolivia - - - 7 - - - - 11 - - - - - - - - - - - - - - - - - - - - Burkina Faso 1 - - - - - - - 3 - - - 13 - - - - - - - - - - - - - - 21 5 Burundi - - - - - - - - 5 - - - - - - - - - - - - - - - - - - 16 6 Central African Republic 0 - 28 - - - 1 - 21 - - - 0 - - - - - 18 - - - - - 1 - - 16 8 Cameroon - - - - - - - - 7 - - - - - - - - - - - - - - - - - - 8 - Chad - - - - - - 0 - 5 - - - 0 - - - - - - - - - - - - 0 - 7 - Comoros - - - - - - - - - - - - - - - - - - - - - - - - - - - 16 - Congo, Dem. Rep. of - - - - - 1 - - 36 - - - - - - - - 10 35 - - - - - - 19 - 46 - Congo, Rep. 3 9 - - 0 - - - 14 - - - - - 0 - - - - - - - - - - - - 16 4 Côte d'Ivoire - - - - - - - - 15 - - - - - - - - - - - - - 5 - - - - 0 - Ethiopia 5 - - - 11 - - - 13 - - - - - - - - - 40 - - 3 - - - - - 12 47 Gambia, The - - - - - - - - 3 - - - - - - - - - - - - - - - - - - 1 1 Ghana - - - - - - - - 13 - - - - - - - - - - - - - 1 - - - - 16 - Guinea - - - - 2 - - - 14 - - - - - - - - 4 2 - - - - - 1 - - 25 6 Guinea-Bissau 6 13 - - - - - - 3 - - - - - 1 - - - - - - - - - - - - 18 2 Guyana - - 2 2 0 - - - 5 - - - - - 0 - - - 0 - - - 1 - - - - 9 8 Haiti - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Honduras - - - - - - - - - 5 - 7 - - - - - - - 7 - - - - - - - 9 - Liberia - - - - - - - - 9 - - - - - - - - - - - - - - - - - - 10 - Madagascar 21 1 - - - - - - 8 - - - - - - - - - - - - - - - 41 - - 6 32 Malawi - - - - - - - - - - - - - - - - - - - - - - - - - - - 8 - Mali 5 - - - - - - - 26 - - - 1 - - - - - - - - - - - 4 - - 9 2 Mauritania 26 - - - - - - - 23 - - - - - - - - - - - - - - - 25 - - 36 15 Mozambique 3/ 134 16 - - 9 - - - 8 - - - - - 2 - - - 1 - - 6 3 - 27 - - 26 43 Nicaragua 4/ 25 - - - 84 - - - 4 - - 522 - - - 6 1 - 5 495 136 7 2 40 - - 0 - 79 Niger 13 - - - - - - - 7 - - - - - - - - - - - - - - - 0 - - 47 16 Rwanda - - - - - - - - 7 - - - - - - - - - - - - - - - - - - 14 1 Senegal 2 - - - - - - - 19 - - - - - - - - - - - - - - - 0 - - 44 - Sierra Leone - - - - - - - - 41 - - - - - - - - - - - - - - - - - - 10 - São Tomé and Príncipe 1 9 - - - - - 0 3 - - - - - - - - - - - - - - - - - - - - Tanzania 25 1 - - 9 - - - 38 - - - - - - 8 - 0 33 - - 4 10 36 22 - - 24 28 Togo - - - - - - - - 14 - - - - - - - - - - - - - - - - - - 10 - Uganda - - - - - 0 - - 15 - - - - - - - - - - - - - 10 - 0 - - 14 21 Zambia - - - - 2 - - - 45 - - - - - - 0 - - 13 - - - 13 - 1 - - - - Total 268 49 33 9 127 2 1 0 439 5 0 529 15 0 3 15 1 14 148 502 136 20 45 78 122 19 0 507 323 50 Table AIII14. HIPC Initiative: Cost Estimates to Non-Paris Club Official Bilateral Creditors by Creditor Country (concluded)1/ (In millions of U.S. dollars, in end-2017 PV terms) Non-Paris Club Official Bilateral Creditors Saudi Arabia South Africa United Arab Korea, Rep. Trinidad & Zimbabwe Dem. Rep. Venezuela Korea, P. Tanzania Morocco Romania Republic Thailand Emirates Uruguay Namibia Portugal Pakistan Rwanda Taiwan, Senegal Tobago Zambia Mexico Nigeria Poland Slovak Oman China Niger Togo Peru Total 36 Post-Decision-Point HIPCs Afghanistan - - - - - - - - - - - - - - 5 - 6 - - - - - - - - - - - 29 Benin - - - 0 - - - 0 - - - - - - - - - - - - - - - - - - - - 17 Bolivia - - - - - - - - - - - - - - - - - - 8 - - - - - - 0 - - 26 Burkina Faso - - - - - - - - - - - - - - 9 - - - 38 - - - - - - - - - 90 Burundi - - - - - - - - - - - - - - 13 - - - - - - - - 2 - - - - 42 Central African Republic - - - 0 - - - - - - - - - - 14 0 - - 78 - - - - - - - - 0 191 Cameroon - - - - - - - - - - - - - - 4 - - - - - - - - - - - - - 19 Chad - - - - - - - - - - - - - - 4 0 - - - - - 0 - - - - - - 16 Comoros - - - - - - - - - - - - - - 10 - - - - - - - - 1 - - - - 28 Congo, Dem. Rep. - - 1 - - - - - - - - - 2 0 21 - - - 40 - - - - 92 - - - - 302 Congo, Rep. - - - - - - - - - - - - 0 - 19 - - - - - - - - 6 - - - - 71 Côte d'Ivoire - - - - - - - - - - - - - - 0 - - - - - - - - - - - - - 21 Ethiopia - - - - - - - 22 - - 7 - - - - - - - - - - - - - - - - - 159 Gambia, The - - - - - - - - - - - - - - 1 - - - 9 - - - - - - - - - 16 Ghana - - - - - - - - 6 - - - - - 11 - - - - - - - - - - - - - 46 Guinea - 4 - - - - - - 0 - - - 3 - 31 - - - - - 1 - - - - - - - 91 Guinea-Bissau - - - - - - 3 - - - - 103 - - 10 - - - 53 - - - - 0 - - - - 212 Guyana - - - - - - - 0 - - - - - - - - - - - - - - - 3 - 5 - - 36 Haiti - - - - - - - - - - - - - - - - - - 7 - - - - - - 0 - - 7 Honduras 13 - - - - - - - - - - - - - - - - - 15 - - - - - - 6 - - 61 Liberia - - - - - - - - - - - - - - 15 - - - 79 - - - - - - - - - 114 Madagascar - - - - - - - - - - - - - - 3 - - - - - - - - 1 - - - - 112 Malawi - - - - - - - - - - - - - - - - - 1 19 - - - - - - - - - 28 Mali - - - - - - - - - - - - - - 22 - - - - - - - - 7 - - - - 76 Mauritania - - - - - - - - - - - - - - 42 - - - - - - - - 5 - - - - 173 Mozambique 3/ - - - - - - - 0 - - 5 - 36 - - - 11 5 - - - - - - - - - - 333 Nicaragua 4/ 58 - - - - - - 2 - 11 8 - - - - - 27 - 167 - - - 1 - 1 66 - - 1,747 Niger - - - - - - - - - - - - - - 23 - - - 61 - - - - 3 - - - - 171 Rwanda - - - - - - - - - - - - - - 15 - - - - - - - - 2 - - - - 39 Senegal - - - - - 2 - - - - - - - - 30 - - - 16 - - - - 6 - - - - 120 Sierra Leone - 3 - - - - - - - - - - - - 1 - - - - - - - - - - - - - 56 São Tomé and Príncipe - - - - - - - - - - - 8 - - - - - - - - - - - - - - - - 21 Tanzania - - - - - - - 0 - - 3 - 0 - 8 - - - - - - - - 3 - - 0 0 253 Togo - - - - - - - - - - - - - - 0 - - - - - - - - - - - - - 24 Uganda - - - - 2 - 1 7 2 - - - - 1 3 - - - - 4 - - - 0 - - - - 81 Zambia - - - - - - - - - - - - 5 - 0 - #N/A - - - - - - - - - - - - 78 71 7 1 0 2 2 5 32 8 11 22 111 46 1 315 0 44 7 590 4 1 0 1 131 1 77 0 0 4,904 Sources: HIPC Country Documents; IMF staff estimates. 1/ Non-Paris Club creditors include those creditors that did not indicate their intention to participate in the Paris Club meeting at the time the completion point document for a particular country was being prepared. Thus, the claims of some creditors that are not permanent members of the Club, but were invited by the Paris Club to participate in the completion point debt negotiation for a given country and signed the Paris Club Agreed Minutes at the end of this negotiation, are not considered in here. 2/ Listed as Yugoslavia in decision point documents. 3/ Excludes claims held by the Ceskoslovenska Obchodni Banka on Mozambique at the time of decision point. 4/ Guatemala's claims on Nicaragua were taken over by Spain in a debt swap. Spain has agreed to provide HIPC Initiative debt relief to Nicaragua on those claims. 51 Table AIII15. Delivery of HIPC Initiative Debt Relief by Non-Paris Club Official Bilateral Creditors1/ 2/ (In millions of U.S. dollars, end-2017 PV terms unless otherwise indicated) HIPC Initiative HIPC Initiative Assistance Costs Assistance Delivered NPV Terms Percent of Total NPV Terms Percent of Cost Total Assistance Creditor Country (1) (2) (3) (4)= (3)/(1) Delivered more than 80 percent of total assistance Algeria 268 5 246 92 Bulgaria 127 3 103 81 Burundi 7/ 2 0 2 98 China 439 9 376 85 Croatia 0 0 0 100 Czech Republic 15 0 14 99 DRC 7/ 0 0 0 84 Ecuador 7/ 1 0 0 93 Egypt 7/ 14 0 14 97 Guatemala 5/ 502 10 495 99 Hungary 20 0 20 100 Israel 19 0 19 100 Jamaica 0 0 0 100 Mexico 71 1 58 81 Oman 2 0 2 100 Republic of Korea 8 0 8 99 Romania 46 1 38 84 South Africa 7 0 7 100 Trinidad and Tobago 1 0 1 100 United Arab Emirates 131 3 106 81 Uruguay 7/ 1 0 1 85 1,672 1,510 Delivered more than 40 percent of total assistance Brazil 9 0 7 76 Colombia 5 0 3 69 India 6/ 45 1 20 43 Iraq 7/ 122 2 67 54 Kuwait 507 10 404 80 Poland 22 0 15 66 Saudi Arabia 315 6 236 75 Slovak Republic 44 1 33 76 Venezuela 77 2 39 51 1,147 825 Delivered less than 40 percent of total assistance Argentina 33 1 3 9 Cuba 3 0 1 22 Former Yugoslavia 4/ 148 3 5 4 Libya 323 7 96 30 Morocco 7 0 1 17 People's Democratic Republic of Korea 32 1 2 7 Pakistan 5 0 1 29 Portugal 111 2 8 7 Rwanda 3/ 1 0 … … Taiwan, China 590 12 53 9 Tanzania 3/ 4 0 … … 1,258 171 52 Table AIII15. Delivery of HIPC Initiative Debt Relief by Non-Paris Club Official Bilateral Creditors (concluded)1/ 2/ (In millions of U.S. dollars, end-2017 PV terms unless otherwise indicated) HIPC Initiative HIPC Initiative Assistance Costs Assistance Delivered NPV Terms Percent of Total NPV Terms Percent of Cost Total Assistance Creditor Country (1) (2) (3) (4)= (3)/(1) No delivery of HIPC relief Angola 49 1 0 0 Cameroon 1 0 0 0 Cape Verde 0 0 0 0 Costa Rica 529 11 0 0 Cote d'Ivoire 15 0 0 0 Honduras 136 3 0 0 Iran 78 2 0 0 Namibia 1 0 0 0 Niger 0 0 0 0 Nigeria 2 0 0 0 Peru 11 0 0 0 Zambia 0 0 0 0 Zimbabwe 0 0 0 0 Other 5 0 0 0 827 0 4,904 100.0 2,505 Sources: HIPC documents; country authorities; and Fund and Bank staff estimates. 1Based on information received as of September 2018. The information covers only creditors that have claims on post- completion-point countries. The information presented in the table is now based only on responses received from the IMF country team with consultations from the authorities. Creditors are not going to be surveyed which is a change in methodology compared to the previous status reports monitoring relief from the non-Paris creditors. 2Argentina, Brazil, the Republic of Korea, Kuwait, Mexico, Morocco, Portugal, South Africa, and Trinidad and Tobago are associated members of the Paris Club. As such, these countries participate in negotiation sessions of the Paris Club on a case-by-case basis, provided that certain conditions are met. Generally, creditors participating in a negotiation session for a particular country are considered Paris Club members for the purpose of HIPC calculations. 3Inthese cases, debtors have indicated that some relief has been provided but the information received is insufficient to quantify it. 4Partition of HIPC loans outstanding at decision point and the associated debt relief among members of the Former Yugoslavia is being determined with the help of the authorities. 5Guatemala's claims on Nicaragua were taken over by Spain in a debt swap. Spain has agreed to provide HIPC debt relief to Nicaragua on those claims. 6InJune 2003, India announced its intention to write off all non-export credit claims on HIPCs. However, several agreements remain unsigned. 7The details for the debt relief provided are now available to be able to better estimate the effort by these creditors. 53 Table AIII16. Commercial Creditor Lawsuits against HIPCs1/ Amount Domicile of Original Judgment for HIPC Debtor Creditor 2/ Court Location Status of Legal Action 3/ 4/ Claimed by the Creditor Claim Creditor Creditor 5/ Ongoing, Judgement (In millions of U.S. dollars) Awarded or Settled Congo, Dem. Rep. of Frans Edward Prins Rootman Israel South Africa Ongoing 12.5 54.1 - MIMINCO United States Belgium and Ireland Judgement awarded 15.0 11.7 - Themis Capital … USA Settled 97.7 13.0 - Congo, Rep. of Groupe Antoine Tabet (GAT) Lebanon France Ongoing 100.0 78.7 - Berrebi France France Ongoing 1.8 2.6 - Commissimpex Rep. of Congo France Judgement Awarded 6/ - - 220.4 Commissimpex Rep. of Congo France Ongoing 7/ - 6.5 - Incofi (Jean Pierre Coutard) France Congo, Rep. of Ongoing 8/ 178.6 229.4 - Ethiopia Kintex-Bulgaria Bulgaria Russia Ongoing 8.7 8.7 - Mali Randgold United Kingdom France Ongoing 50.0 50.0 - Cesse Kome … France Ongoing 3.0 3.0 - AECOM … France Ongoing 5.0 5.0 - Groupe Tomota … Cote d'Ivoire Ongoing 120.0 120.0 - Niger Taiwan, China Taiwan, China United States Judgement Awarded 9/ 60.0 183.0 - Sudan Namco Anstalt Switzerland Sudan Ongoing 4.6 5.0 - Africa Alfa Fund Dubai Dubai Ongoing 26.2 - - Uganda NA Iraq Uganda Ongoing 6.0 6.4 - Source: Country Authorities and IMF Staff 1/ Commercial creditors lawsuits against HIPCs are reported without assessing the merits of these disputes. The information reported in this table reflects responses by the authorities, and it should not be considered a complete summary of all commercial creditor proceedings against HIPCs. The cases reported here are either ongoing or recently settled. Past cases can be found in previous Statistical Updates. 2/ Either original creditor or holder of current claim. 3/ "Judgment awarded" refers to cases in which the creditor has obtained a judgement against the HIPC but has not yet recovered the full payment on its claim. Settled refers to cases where the judgement has been awarded and both parties have been settled on their claims. 4/ Excludes accumulated interest, charges, and penalties. 5/ Amount could include interest, charges, and penalties. 6/ Judgement has been appealed. Approximate amount in USD, amount reported EUR 167 million. 7/ Approximate amount in USD, amount reported EUR 5 million. Excludes accumulated interest, charges, and penalties. 8/ Approximate amount in US$ representing the equivalent of CFA 88,886 million (original claims) and CFA 109,784 million (claimed by creditor). 9/ An agreement reached in June 25, 2015 reduced the total amount to US$20 millions, in which US$5 million has been paid and the remaining balance will be paid in 20 years with 1.75 percent annual interest rate. 54