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

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.


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

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