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Burundi - Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative (English)

This Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative in respect of debt owed by Burundi to the International Development Association (IDA), addresses and recommends: a) the proposed assistance be provided in the interim period between the decision point and completion point in respect of debt owed to IDA; b) the relief that is proposed be provided in respect of debt owed to IDA at the completion point; and, c) the triggers that Burundi must satisfy to reach the completion under the Enhanced HIPC Initiative. This document complements the attached joint IDA-IMF paper entitled "Burundi: Decision Point Document for the Enhanced Heavily Indebted Poor Countries Initiative". The decision point document contains a revision of the debt sustainability analysis (DSA), and also contains recommendations on: a) the envisaged debt relief from both multilateral and bilateral creditors under the Enhanced HIPC Initiative; and, b) conditions upon which a floating completion point would be predicated. It is proposed that the Enhanced HIPC assistance from IDA - US$424.8 million in end-2004 NPV terms - be delivered through debt relief on IDA credits disbursed, and outstanding as of December 31, 2004. The delivery of HIPC assistance at completion point would be contingent upon the fulfillment of actions specified in the accompanying decision point document. To reach the completion point, the government will need to: a) prepare a full Poverty Reduction Strategy Paper (PRSP) through a participatory process, and implement it for at least one year; b) maintain macroeconomic stability as evidenced by satisfactory performance under the Poverty Reduction and Growth Framework (PRGF) supported program; and, c) implement key governance measures and achieve priority poverty reduction goals as specified. It is recommended to approve the above as presented in the decision point document and to approve the provision of debt relief to Burundi.

Details

  • Document Date

    2005/07/11

  • Document Type

    Decision Point Document

  • Report Number

    40314

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Burundi,

  • Region

    Africa,

  • Disclosure Date

    2010/07/01

  • Doc Name

    Burundi - Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative

  • Keywords

    present value;projection period;baseline scenario;debt service;coffee sector;debt to export;sensitivity analysis;commercial creditor;legal and regulatory framework;Public and Publicly Guaranteed;contribution to poverty reduction;debt outstanding and disbursed;traditional debt relief mechanism;access to the sea;debt service to export;access to safe water;foreign exchange surrender requirement;eligibility for assistance;quality of public service;official exchange rate;current account deficit;multilateral creditor;social services delivery;private sector activity;net present value;dimensions of poverty;reform strategy;external assistance;social indicator;export base;bilateral creditor;debt management strategy;health sector management;risk of debt;debt service ratio;education and health;high growth rate;improving health care;quality and relevance;Promoting Private Sector;distribution of school;victims of conflict;external financial assistance;peace and development;matching grant program;African Development Fund;public enterprise privatization;improving food security;private sector supplier;fight against corruption;governance action plan;Public Finance Management;human capital development;maternal mortality rate;child mortality rate;infant mortality rate;Public Expenditure Management;debt sustainability analysis;civil service payroll;Internally Displaced Person;stock of debt;state marketing board;official development aid;debt service obligation;income tax liability;share of export;import of goods;audit court;Health Service;external financing;export performance;concessional term;Learning and Innovation Credit;Macroeconomic Stability;good governance;bilateral agreement;budgetary saving;international community;commercial debt;budget savings;security spending;multilateral debt;Education Services;credit ceiling;government strategy;weighted average;ethnic violence;active program;domestic reform;export growth;executive board;traditional sector;household survey;debt-service;peacekeeping force;monetary growth;rural area;civil conflict;peace accord;political environment;Social Welfare;nontradable goods;macroeconomic objective;child malnutrition;food price;Fiscal Sustainability;structural adjustment;expenditure pressures;food crop;coffee crop;resource transfer;military spending;humanitarian assistance;coffee price;government expenditure;commercial bank;smaller number;concessional assistance;import tariff;economic stabilization;reserve position;Financial Stability;medium-term macroeconomic;international reserve;social condition;trade balance;sustainable infrastructure;grant financing;promotion program;export ratio;community ownership;fresh fruit;agricultural product;world price;expected return;security situation;outstanding debt;budget support;gross investment;national saving;export receipts;project financing;program loans;agricultural production;Fiscal policies;fiscal policy;loan disbursement;total debt;social program;consumer price;import growth;baseline projection;export volume;current expenditure;poverty reducing;Farmers' Organizations;external resource;fiscal revenue;reduction rate;total stock;transition process;repayment terms;financing cost;hydrological cycle;carbon storage;debt-service ratio;infrastructure service;official financing;balanced development;concessional loan;road infrastructure;labor-intensive technique;trade performance;sectoral reform;export earnings;commercial transaction;reference price;market access;global economy;business environment;primary schooling;Bankruptcy Law;Commercial Law;capital stock;Population Displacement;opinion survey;sugar sector;cotton sector;crop season;ministerial order;private entry;export restrictions;democratic governance;poverty alleviation;broad consultation;domestic price;budget execution;wage adjustment;liquidity management;preshipment inspection;single taxpayer;Government Accounts;human rights;ethnic balance;national account;statistical information;refugee camp;private saving

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Citation

Burundi - Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/593311468744270444/Burundi-Enhanced-Heavily-Indebted-Poor-Countries-HIPC-Debt-Initiative