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Afganistan - Enhanced heavily indebted poor countries (HIPC) initiative : preliminary document (Inglês)

This paper presents a preliminary assessment of the eligibility of Afghanistan for assistance under the Enhanced Heavily Indebted Poor Countries (HIPC) initiative. The preliminary assessment is based principally on IDA and IMF missions to Kabul in January/February 2007. The results show that, at end-2004, Afghanistan's net present value (NPV) of debt-to-exports ratio after the full delivery of traditional debt relief is 585.4 percent, well above the HIPC threshold, in addition, in 2004, Afghanistan was eligible for the Poverty Reduction and Growth Facility (PRGF) and was an IDA-only country with a GNI per capita ofUS$228. The staffs, therefore, propose that Afghanistan be added to the list of ring-fenced countries that meet the income and indebtedness criteria at end-2004. Once in the list, given that Afghanistan has ongoing programs with IDA and under the PRGF, it would become eligible under the HIPC initiative. This paper also presents a preliminary analysis based on the latest end-of-fiscal year debt data. The paper is organized as follows. Section 2 provides background information on Afghanistan, including recent poverty and social developments and the policy track record. Section 3 discusses the medium-to-long term macroeconomic framework. Section 4 establishes Afghanistan's eligibility for the HIPC Initiative and summarizes the results of the preliminary debt relief analysis, as well as possible HIPC and MDRI assistance. Section 5 suggests a timeline for preparing the decision point document, presents key reforms that could be possible completion point triggers, and outlines the key issues in the use and monitoring o f HIPC resources. Finally, Section 6 presents issues for discussion by Executive Directors.


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    Documento sobre o ponto de decisão preliminar

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    Afganistan - Enhanced heavily indebted poor countries (HIPC) initiative : preliminary document

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    projection period;debt relief;traditional debt relief mechanism;external current account deficit;Tax Policy and Administration;life expectancy at birth;annual report to parliament;debt outstanding and disbursed;Public and Publicly Guaranteed;Macroeconomic Stability;net present value;sensitivity analysis;baseline scenario;multilateral creditor;export of goods;total external debt;international development partner;debt sustainability analysis;comparator country;bilateral creditor;eligibility criterion;budget formulation;central government revenue;monetary policy instrument;gross national income;debt service relief;financial sector reform;Demand For Education;growth and development;open market economy;consumer price index;market interest rate;poverty reduction objective;plan for education;quality of education;government budget execution;degree of corruption;domestic private sector;foreign direct investment;weak payments system;central government budget;primary completion rate;improved sanitation facilities;sustainable fiscal policy;external debt service;human development indicator;direct budget support;implementation of regulation;tax policy framework;Public Financial Management;accounting and reporting;service delivery mechanism;Energy and Mining;Public Administration Reform;due process requirements;sustainable fiscal deficit;real gdp;indebtedness criterion;external obligation;external grant;good governance;merchandise export;Learning and Innovation Credit;bilateral agreement;interest due;human rights;grace period;fiscal adjustment;grant financing;security situation;Fiscal Sustainability;functional expenditure;financing need;data limitation;population estimate;live birth;concessional term;grant element;debt finance;domestic revenue;school enrollment;stable inflation;sectoral strategy;budget process;outstanding debt;stakeholder participation;severe poverty;administrative capacity;consumption tax;awareness campaign;exploration license;exploitation license;educational standard;donor activities;donor resource;expenditure tracking;debt indicators;maternal care;external financing;long-term rate;long-term sustainability;attending school;public resource;institutional framework;export price;export receipts;debt disbursed;eligible debt;social indicator;revenue administration;Population Growth;tax authority;trust instrument;tax authorities;international community;socio-economic development;bilateral debt;aid inflow;international standard;financial statement;program classification;fiscal framework;qualified personnel;competitive selection;core functions;public health;expenditure adjustment;government expenditure;core service;classification system;external aid;donor support;children of ages;literate female;governance measure;budget practice;private investment;opium economy;payment system;human capital;security challenge;pay scale;opium cultivation;political institution;living standard;mutual commitment;budget reporting;significant factor;consumption module;stable currency;constant price;geographic coverage;Fiscal policies;debt stock;guaranteed debt;database system;government plan;sectoral reform;expenditure policy;Macroeconomic Management;resource constraint;fiscally sustainable;output growth;aggregate income;international reserve;trading partner;political process;Maternal Mortality;fiduciary standard;expenditure system;political situation;improve revenue;increasing transparency;macroeconomic condition;domestic absorption;substantial debt;external creditor;potential debt;program budget;commercial creditor;school level;draft agreement;macroeconomic framework;debt datum;macroeconomic assumption;export service;political leadership;macroeconomic projection;official exports;underweight child;project selection;sustainable level;investment declines;school rehabilitation;executive board;Teacher Recruitment;increased investment;Prenatal Care;



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