| Table 1. Key IMF Financial Statistics
|
| as of May 24, 2007
|
| (In billions of SDRs, and end of period, unless indicated otherwise)¹
|
(For definitions, see below)
|
|
|
|
|
|
|
2007
|
|
|
|
2005
|
2006
|
Q1
|
Q2 to date
|
|
| Financial Assistance
|
|
|
|
|
|
| GRA
|
|
|
|
|
|
| Purchases (during period)
|
2.3
|
2.4
|
0.0
|
0.8
|
|
| Repurchases (during period)
|
29.2
|
21.0
|
1.9
|
0.9
|
|
| Credit outstanding
|
28.4
|
9.8
|
7.9
|
7.8
|
|
|
|
|
|
|
|
|
| PRGF-ESF
|
|
|
|
|
|
| Disbursements (during period)
|
0.4
|
0.5
|
0.1
|
0.0
|
|
| Repayments (during period)
|
0.9
|
2.9
|
0.1
|
0.1
|
|
| Credit outstanding
|
6.3
|
3.8
|
3.9
|
3.9
|
|
|
|
|
|
|
|
|
| HIPC (SDR millions)
|
|
|
|
|
|
| Number of countries
|
29
|
31
|
31
|
31
|
|
| Commitments (cumulative)
|
1,858
|
1,877
|
1,877
|
1,877
|
|
| Disbursements (cumulative)
|
1,598
|
1,686
|
1,687
|
1,687
|
|
| Of which: Interim assistance
|
640
|
640
|
640
|
640
|
|
| Completion point assistance
|
958
|
1,047
|
1,047
|
1,047
|
|
|
|
|
|
|
|
|
| MDRI (SDR millions)
|
|
|
|
|
|
| Number of countries
|
n.a.
|
23
|
24
|
24
|
|
| Total Debt Relief (cumulative)
|
n.a.
|
2,691
|
2,692
|
2,692
|
|
| Financed from: MDRI Trusts
|
n.a.
|
2,294
|
2,295
|
2,295
|
|
| HIPC Umbrella Account
|
n.a.
|
397
|
397
|
397
|
|
|
|
|
|
|
|
|
| Available Resources
|
|
|
|
|
|
| GRA
|
|
|
|
|
|
| Usable resources
|
145.2
|
161.2
|
163.0
|
163.7
|
|
| Uncommitted usable resources
|
132.5
|
157.3
|
159.1
|
160.5
|
|
| Repurchases one-year forward
|
8.0
|
2.8
|
1.5
|
1.1
|
|
| Prudential balance
|
34.1
|
34.8
|
34.8
|
34.9
|
|
| One-year forward commitment capacity (FCC)
|
106.5
|
125.4
|
125.9
|
126.7
|
|
|
|
|
|
|
|
|
| PRGF-ESF Trust
|
|
|
|
|
|
| Total loan resources
|
15.8
|
15.8
|
15.8
|
15.8
|
|
| Cumulative commitments, net
|
13.1
|
13.3
|
13.3
|
13.2
|
|
| Of which: Cumulative disbursements
|
12.0
|
12.5
|
12.6
|
12.6
|
|
| Uncommitted loan resources
|
2.7
|
2.5
|
2.5
|
2.6
|
|
|
|
|
|
|
|
|
| Arrears
|
|
|
|
|
|
| GRA
|
1.7
|
1.6
|
1.6
|
1.6
|
|
| PRGF
|
0.1
|
0.1
|
0.1
|
0.1
|
|
| Trust Fund and other
|
0.2
|
0.2
|
0.2
|
0.2
|
|
|
|
|
|
|
|
|
| Rates
|
|
|
|
|
|
| US$ per SDR
|
1.42927
|
1.50440
|
1.51019
|
1.51393
|
|
| SDR interest rate (percent)
|
3.03
|
4.07
|
4.22
|
4.21
|
|
| Rate of charge, adjusted (percent)
|
4.25
|
5.48
|
5.49
|
5.48
|
|
| Rate of remuneration, adjusted (percent)
|
2.86
|
3.77
|
4.05
|
4.04
|
|
|
|
|
|
|
|
|
| 1 Totals may not add due to rounding
|
|
|
|
|
|
| Key IMF Financial Statistics
|
|
|
|
|
 | |
| Term
|
Definition
|
|
|
|
|
| Financial Assistance
|
|
|
|
|
|
| GRA
|
The General Resources Account (GRA) contains IMF's holdings of members' currencies, SDRs, gold, and other assets. These holdings are principally derived from quota subscription payments plus any activated borrowings.
|
|
|
|
|
| Purchases
|
GRA resources disbursed to members during the period (outflows).
|
|
|
|
|
| Repurchases
|
GRA resources repaid by members during the period (inflows).
|
|
|
|
|
| Credit outstanding
|
Total GRA resources disbursed less repayments.
|
|
|
|
|
| PRGF
|
The Poverty Reduction and Growth Facility (PRGF), formerly known as the Enhanced Structural Adjustment Facility (ESAF), provides loans at a concessional interest rate to eligible, low-income members. PRGF financing is conducted through the PRGF-ESF Trust.
|
|
|
|
|
| Disbursements
|
Disbursements of PRGF loans during the period.
|
|
|
|
|
| Repayments
|
Repayments of PRGF and Structural Adjustment Facility loans during the period.
|
|
|
|
|
| Credit outstanding
|
Total PRGF loan disbursements less repayments (including credit outstanding under Trust Fund and Structural Adjustment Facility (SAF)).
|
|
|
|
|
| HIPC
|
Assistance provided to eligible countries under the Heavily Indebted Poor Countries (HIPC) Initiative.
|
|
|
|
|
| Number of countries
|
Number of countries for which HIPC assistance has been committed.
|
|
|
|
|
| Commitments
|
Cumulative commitments made to HIPC-eligible members that have reached the decision point under the HIPC Initiative; includes amounts that the IMF has indicated will be committed subject to satisfactory assurances regarding exceptional assistance to be provided by other creditors under the HIPC Initiative.
|
|
|
|
|
| Disbursements
|
Cumulative grants to members eligible for financial assistance under the HIPC Initiative to be used to help meet debt service payments to the IMF.
|
|
|
|
|
| Of which:
|
|
|
|
|
|
| Interim assistance
|
Cumulative grants to members between their decision and completion points.
|
|
|
|
|
| Completion point assistance
|
Final grants to members at their completion points.
|
|
|
|
|
| MDRI
|
The Multilateral Debt Relief Initiative (MDRI) provides 100% debt relief to eligible member countries that are qualified for the assistance. The debt relief covers the full stock of debt owed to the Fund as of end-2004, and still outstanding at the time the country qualifies for such debt relief.
|
|
|
|
|
| Number of countries
|
Number of countries which have received MDRI debt relief.
|
|
|
|
|
| Total Debt Relief
|
|
|
|
|
|
| Financed from
|
|
|
|
|
|
| MDRI Trusts
|
MDRI resources (excluding HIPC debt relief) disbursed to members during the period.
|
|
|
|
|
| HIPC Umbrella Account
|
HIPC resources used as debt relief under the MDRI during the period.
|
|
|
|
|
|
|
|
|
|
|
|
| Available Resources
|
|
|
|
|
|
| GRA
|
|
|
|
|
|
| Usable resources
|
Usable resources consist of: (i) the IMF's holdings of the currencies of members considered by the Executive Board to have a sufficiently strong balance of payments and reserve position for their currencies to be used in the financing of IMF transactions (see Financial Transactions: http://www.imf.org/cgi-shl/create_x.pl?ftp ), (ii) holdings of SDRs, and (iii) unused amounts, if any, under credit lines already activated, such as under the General Arrangements to Borrow and New Arrangements to Borrow (GAB/NAB).
|
|
|
|
|
| Uncommitted usableresources
|
Usable resources less the full amount of undrawn balances under existing arrangements.
|
|
|
|
|
| Repurchases one-year forward
|
Repayments by member countries during the coming one-year period. These repurchases add to the supply of the IMF's usable resources. It is assumed that repurchases would be made on an expectations basis for the SRF, and on an obligations basis under all other facilities (see Terms of IMF Lending: http://www.imf.org/external/np/exr/facts/howlend.htm )
|
|
|
|
|
| Prudential balance
|
Amount set aside to safeguard the liquidity of creditors' claims and take account of the potential erosion of the IMF's resource base. The prudential balance is set at 20 percent of the quotas of members that issue the currencies that are used in the financing of IMF transactions and any amounts activated under borrowing arrangements. The prudential ratio of 20 percent as decided by the IMF's Executive Board reflects historical experience and judgments on the indicative level of uncommitted usable resources that the IMF would normally not use to make financial commitments. The prudential balance does not represent a rigid minimum and IMF resources could on a strictly temporary basis, fall below this level.
|
|
|
|
|
| One-year forward commitment capacity
|
A measure of the resources available for new financial commitments in the coming year, equal to uncommitted usable resources plus repurchases one-year forward minus the prudential balance.
|
|
|
|
|
|
|
|
|
|
|
|
| PRGF-ESF Trust
|
Trust administered by the IMF to conduct PRGF and ESF-related operations through the Loan, Reserve and Subsidy Accounts.
|
|
|
|
|
| Available loan resources
|
Loan Account resources committed by lenders to the PRGF Trust, plus resources under an associated loan agreement with the Saudi Fund for Development.
|
|
|
|
|
| Cumulative commitments, net
|
Cumulative commitments to borrowers, net of unused amounts under arrangements which have expired or have been canceled.
|
|
|
|
|
| Of which: Cumulative disbursements
|
Disbursements to borrowers under PRGF and ESF arrangements.
|
|
|
|
|
| Uncommitted loan resources
|
Available PRGF loan resources less commitments made to PRGF and ESF borrowers.
|
|
|
|
|
|
|
|
|
|
|
|
| Arrears Outstanding
|
|
|
|
|
|
| GRA
|
Total overdue GRA financial obligations.
|
|
|
|
|
| PRGF
|
Total overdue PRGF financial obligations.
|
|
|
|
|
| Trust Fund and other
|
Total overdue financial obligations to the Trust Fund, Structural Adjustment Facility (SAF), and SDR Department. Although the Trust Fund and SAF are no longer operational, arrears to the Trust Fund and SAF consist of overdue repayments, interest, or charges on loans provided under these facilities. Arrears in the SDR Department are incurred on any unpaid charges.
|
|
|
|
|
|
|
|
|
|
|
|
| Rates
|
|
|
|
|
| US$ per SDR
|
Exchange rate for the SDR in terms of U.S. dollars. The method for valuing the SDR was revised effective January 1, 2006.
|
|
|
|
|
|
(See: http://www.imf.org/external/np/tre/sdr/basket.htm )
|
|
|
|
| SDR interest rate
|
Interest rate calculated as a weighted average of three month market interest rates on U.S. dollar, euro, Japanese yen and pound sterling assets. The method for valuing the SDR interest rate was revised effective January 9, 2006.
|
|
|
|
|
|
|
(See: http://www.imf.org/external/np/tre/tad/sdr_ir.cfm )
|
|
|
|
|
| Rate of charge, adjusted
|
Interest rate charged on GRA loans to cover the IMF's cost of financing, additions to reserves, and administrative expenses. Adjusted by a small margin to allow for special additions to reserves and to compensate for income forgone because of charges in arrears.
|
|
|
|
|
| Rate of remuneration, adjusted
|
Interest rate paid to members that provide resources to the IMF. Adjusted by a small margin to allow for special additions to reserves and to compensate for income forgone because of charges in arrears.
|
|
|
|
|
|
|
|
|
|
|
|
| Investments
|
|
|
|
|
|
| Amount
|
PRGF-ESF, PRGF-HIPC, Special Disbursement Account (SDA), and MDRI Trusts resources invested in short-term deposits and medium-term instruments with the Bank for International Settlements (BIS) and bond portfolios managed by the World Bank and private investment managers. Data from the first quarter of 2000 onward also include sight deposits. The SDA contains the profits (sales proceeds minus the value of the gold at the acquisition cost) from sales of the IMF's gold holdings.
|
|
|
|
|
| Average yield (percent)
|
Weighted average yield on time deposits, two days' notice accounts, demand deposit accounts, and fixed income securities.
|
|
|
|
|
| Average maturity (months)
|
Weighted average of remaining maturity of resources placed in time deposits and the modified duration of fixed income securities.
|
|
|
|
|
| Table 2a. Current Financial Arrangements (GRA)
|
| as of May 24, 2007
|
| (In millions of SDRs) 1
|
(For definitions see Attachment)
|
|
|
| Member
|
Effective
|
Expiration
|
Amount
|
Undrawn
|
Total Credit
|
Date
|
Date
|
Agreed
|
Balance
|
Outstanding
|
|
|
|
|
|
|
|
| Stand-by Arrangements
|
|
| Dominican Republic
|
1/31/05
|
1/30/08
|
438
|
154
|
315
|
| Gabon
|
5/7/07
|
5/6/10
|
77
|
77
|
33
|
| Iraq
|
12/23/05
|
9/28/07
|
475
|
475
|
297
|
| Macedonia, FYR
|
8/31/05
|
8/30/08
|
52
|
41
|
--
|
| Paraguay
|
5/31/06
|
8/31/08
|
65
|
65
|
--
|
| Peru
|
1/26/07
|
2/28/09
|
172
|
172
|
--
|
| Turkey
|
5/11/05
|
5/10/08
|
6,662
|
2,248
|
5,736
|
| 7 Arrangements
|
|
|
7,941
|
3,234
|
6,381
|
| Extended Arrangements
|
|
|
|
|
|
| Albania
|
2/1/06
|
1/31/09
|
9
|
5
|
4
|
| Total 8 STBY and EFF
|
|
|
7,950
|
3,239
|
6,385
|
|
|
|
|
|
|
|
| 1 -- indicates zero value
|
|
|
|
|
|
| Table 2b. Current Financial Arrangements (PRGF and ESF)
|
| as of May 24, 2007
|
| (In millions of SDRs) 1
|
(For definitions, see below)
|
|
|
|
|
|
|
|
| Member
|
Effective
|
Expiration
|
Amount
|
Undrawn
|
Total Credit
|
Date
|
Date
|
Agreed
|
Balance
|
Outstanding
|
| Poverty Reduction and Growth Facility
|
|
|
|
| Afghanistan
|
6/26/06
|
6/25/09
|
81
|
57
|
25
|
| Albania
|
2/1/06
|
1/31/09
|
9
|
5
|
57
|
| Armenia
|
5/25/05
|
5/24/08
|
23
|
10
|
104
|
| Bangladesh
|
6/20/03
|
6/19/07
|
400
|
84
|
317
|
| Benin
|
8/5/05
|
8/4/08
|
6
|
4
|
2
|
| Burkina Faso
|
4/23/07
|
4/22/10
|
6
|
6
|
24
|
| Burundi
|
1/23/04
|
9/30/07
|
69
|
7
|
62
|
| Cameroon
|
10/24/05
|
10/23/08
|
19
|
11
|
8
|
| Central African Rep.
|
12/22/06
|
12/21/09
|
36
|
19
|
31
|
| Chad
|
2/16/05
|
2/15/08
|
25
|
21
|
41
|
| Congo, Rep. of
|
12/6/04
|
6/5/08
|
55
|
31
|
24
|
| Gambia, The
|
2/21/07
|
2/20/10
|
14
|
12
|
13
|
| Georgia
|
6/4/04
|
9/30/07
|
98
|
14
|
157
|
| Grenada
|
4/17/06
|
4/16/09
|
11
|
9
|
2
|
| Haiti
|
11/20/06
|
11/19/09
|
74
|
46
|
28
|
| Kenya
|
11/21/03
|
11/20/07
|
150
|
38
|
136
|
| Kyrgyz Republic
|
3/15/05
|
3/14/08
|
9
|
4
|
102
|
| Madagascar
|
7/21/06
|
7/20/09
|
55
|
39
|
27
|
| Malawi
|
8/5/05
|
8/4/08
|
38
|
16
|
20
|
| Mali
|
6/23/04
|
10/31/07
|
9
|
1
|
7
|
| Mauritania
|
12/18/06
|
12/17/09
|
16
|
10
|
7
|
| Moldova
|
5/5/06
|
5/4/09
|
111
|
68
|
67
|
| Mozambique
|
7/6/04
|
7/5/07
|
11
|
2
|
8
|
| Nepal
|
11/19/03
|
11/18/07
|
50
|
21
|
29
|
| Niger
|
1/31/05
|
1/30/08
|
26
|
3
|
24
|
| Rwanda
|
6/12/06
|
6/11/09
|
8
|
6
|
4
|
| Sao Tome
|
8/1/05
|
7/31/08
|
3
|
1
|
2
|
| Sierra Leone
|
5/10/06
|
5/9/09
|
31
|
22
|
23
|
| Zambia
|
6/16/04
|
6/15/07
|
220
|
28
|
28
|
| 29 Arrangements
|
|
|
1,664
|
592
|
1,375
|
| Exogenous Shocks Facility
|
|
|
|
|
| None
|
|
|
--
|
--
|
--
|
|
|
|
|
|
|
|
| Total
|
|
|
1,664
|
592
|
1,375
|
|
|
|
|
|
|
|
| 1 -- indicates zero value
|
|
|
|
|
|
| Table 2a. and 2b. Current Financial Arrangements (GRA, PRGF and ESF)
|
| |
| Term
|
Definition
|
|
| Arrangements
|
IMF credit is made available under a variety of borrowing arrangements with different disbursement schedules and maturities depending on the balance of payment needs of the member.
|
| Stand-By Arrangements
|
The most common type of credit arrangement designed to provide short-term financial assistance. Purchases under Stand-By Arrangements are repayable in 8 quarterly installments 2¼ - 4 years after disbursement under the expectation schedule, and 3¼ - 5 years after disbursement under the obligation schedule.
|
| Extended Arrangements
|
Extended Arrangements provide credit for a longer period since these arrangements usually require fundamental reforms which may need more time to put in place and take effect. Drawings under extended arrangements are repayable in 6 semiannual installments 4¼ - 7 years after disbursement under the expectation schedule, and in 12 semiannual installments 4½ - 10 years after disbursement under the obligation schedule.
|
| PRGF Arrangements
|
Concessional arrangements providing credit at an interest rate of ½ of 1 percent to eligible low-income members. The loans are repayable in 10 equal semiannual installments 5½ - 10 years after disbursement.
|
| ESF Arrangements
|
The ESF is designed to provide concessional financing to low-income countries that are experiencing exogenous shocks but do not have a PRGF arrangement in place. The interest rate and repayment terms for disbursements under the ESF are the same as those under the PRGF. Arrangements under the ESF range from one to two years.
|
| Supplemental Reserve Facility
|
The Supplemental Reserve Facility (SRF) provides financial assistance to members experiencing exceptional balance of payments difficulties due to short-term financing needs resulting from a sudden and disruptive loss of market confidence reflected in pressure on the capital account and the members' reserves. SRF resources are provided under Stand-By and Extended Arrangements and are repayable in 2 installments 2 - 2½ years after disbursement under the expectation schedule, and 2½ - 3 years under the obligation schedule.
|
|
|
|
| Arrangement Details
|
|
| Next Scheduled Review
|
IMF financial arrangements are reviewed regularly to assess progress in policy reforms. The disbursement of funds under an arrangement is linked to the achievement of certain financial targets.
|
| Next Scheduled Review
|
Expected date the arrangement will be reviewed by the Executive Board.
|
| Date of Approval
|
Date the arrangement was approved by the Executive Board.
|
| Date of Expiration
|
Arrangements have a specified duration. Commitments are no longer available after the expiration of the arrangement.
|
| Amount Agreed
|
Amount of credit available under an arrangement.
|
| Undrawn Balance
|
Amount of credit available under an arrangement but not yet drawn.
|
| Total Credit Outstanding
|
Total resources outstanding to the member.
|
| Total Credit Outstanding as percent of quota
|
Total credit outstanding in terms of member's quota.
|
| Table 3. Status of Commitments of IMF HIPC Assistance
|
| as of May 24, 2007
|
|
| (In millions of SDRs) 1
|
(For definitions, see below)
|
|
|
Member
|
Decision Point
|
Completion Point
|
Amount Committed
|
Amount Disbursed
|
2
|
| Under the Original HIPC Initiative
|
|
|
|
|
|
|
| Bolivia
|
Sep. 1997
|
Sep. 1998
|
21.2
|
|
21.2
|
|
| Burkina Faso
|
Sep. 1997
|
Jul. 2000
|
16.3
|
|
16.3
|
|
| Cote d'Ivoire
|
Mar. 1998
|
--
|
16.7
|
3
|
--
|
|
| Guyana
|
Dec. 1997
|
May. 1999
|
25.6
|
|
25.6
|
|
| Mali
|
Sep. 1998
|
Sep. 2000
|
10.8
|
|
10.8
|
|
| Mozambique
|
Apr. 1998
|
Jun. 1999
|
93.2
|
|
93.2
|
|
| Uganda
|
Apr. 1997
|
Apr. 1998
|
51.5
|
|
51.5
|
|
| Total Original HIPC
|
|
|
235.3
|
|
218.6
|
|
|
|
|
|
|
|
|
|
| Under the Enhanced HIPC Initiative
|
|
|
|
|
|
|
| Benin
|
Jul. 2000
|
Mar. 2003
|
18.4
|
|
20.1
|
|
| Bolivia
|
Feb. 2000
|
Jun. 2001
|
41.1
|
|
44.2
|
|
| Burkina Faso
|
Jul. 2000
|
Apr. 2002
|
27.7
|
|
29.7
|
|
| Burundi
|
Aug. 2005
|
Floating
|
19.3
|
|
0.2
|
|
| Cameroon
|
Oct. 2000
|
Apr. 2006
|
28.6
|
|
33.7
|
|
| Chad
|
May. 2001
|
Floating
|
14.3
|
|
8.6
|
|
| Congo, Dem. Rep. of
|
Jul. 2003
|
Floating
|
228.3
|
4
|
3.4
|
|
| Congo, Rep. of
|
Mar. 2006
|
Floating
|
5.6
|
|
--
|
|
| Ethiopia
|
Nov. 2001
|
Apr. 2004
|
45.1
|
|
46.7
|
|
| Gambia, The
|
Dec. 2000
|
Floating
|
1.8
|
|
0.4
|
|
| Ghana
|
Feb. 2002
|
Jul. 2004
|
90.1
|
|
94.3
|
|
| Guinea
|
Dec. 2000
|
Floating
|
24.2
|
|
5.2
|
|
| Guinea-Bissau
|
Dec. 2000
|
Floating
|
9.2
|
|
0.5
|
|
| Guyana
|
Nov. 2000
|
Dec. 2003
|
31.1
|
|
34.0
|
|
| Haiti
|
Nov. 2006
|
Floating
|
2.1
|
|
0.0
|
|
| Honduras
|
Jun. 2000
|
Apr. 2005
|
22.7
|
|
26.4
|
|
| Madagascar
|
Dec. 2000
|
Oct. 2004
|
14.7
|
|
16.4
|
|
| Malawi
|
Dec. 2000
|
Aug. 2006
|
33.4
|
|
37.2
|
|
| Mali
|
Sep. 2000
|
Mar. 2003
|
34.7
|
|
38.5
|
|
| Mauritania
|
Feb. 2000
|
Jun. 2002
|
34.8
|
|
38.4
|
|
| Mozambique
|
Apr. 2000
|
Sep. 2001
|
13.7
|
|
14.8
|
|
| Nicaragua
|
Dec. 2000
|
Jan. 2004
|
63.5
|
|
71.2
|
|
| Niger
|
Dec. 2000
|
Apr. 2004
|
31.2
|
|
34.0
|
|
| Rwanda
|
Dec. 2000
|
Apr. 2005
|
46.8
|
|
50.6
|
|
| São Tomé and Príncipe
|
Dec. 2000
|
Mar. 2007
|
--
|
5
|
--
|
|
| Senegal
|
Jun. 2000
|
Apr. 2004
|
33.8
|
|
38.4
|
|
| Sierra Leone
|
Mar. 2002
|
Dec. 2006
|
100.0
|
|
106.6
|
|
| Tanzania
|
Apr. 2000
|
Nov. 2001
|
89.0
|
|
96.4
|
|
| Uganda
|
Feb. 2000
|
May. 2000
|
68.1
|
|
70.2
|
|
| Zambia
|
Dec. 2000
|
Apr. 2005
|
468.8
|
|
508.3
|
|
| Total Enhanced HIPC
|
|
|
1,642.1
|
|
1,468.1
|
|
|
|
|
|
|
|
|
|
| Grand Total
|
1,877.4
|
|
1,686.7
|
|
|
|
|
|
|
|
|
|
| 1 -- indicates zero value.
|
|
|
|
|
|
|
| 2 Includes interest on amounts committed under the Enhanced HIPC Initiative.
|
|
| 3 Equivalent to the committed amount of US $22.5 million at decision point exchange rates (3/17/98).
|
|
| 4 Amount committed is equivalent to the remaining balance of the total IMF HIPC assistance of SDR 337.9 million, after deducting SDR 109.6 million representing the concessional element associated with the disbursement of a PRGF loan following the DRC's clearance of arrears to the IMF on June 12, 2002.
|
|
| 5 At the time of its decision point, São Tomé and Príncipe did not have any outstanding eligible debt. Excludes commitment of additional enhanced HIPC assistance of SDR 0.824 million, subject to receipt of satisfactory financing assurances from other creditors.
|
|
| Table 3. Status of Commitments of HIPC Assistance
|
| |
| Term
|
Definition
|
|
|
|
| Decision Point
|
Point at which the IMF decides whether a member qualifies for assistance under the HIPC Initiative (normally at the end of the initial three-year performance period) and decides on the amount of assistance to be committed.
|
| Completion Point
|
Point at which the country receives the bulk of its assistance under the HIPC Initiative, without any further policy conditions. Under the enhanced HIPC Initiative, the timing of the completion point is linked to the implementation of pre-agreed key struc
|
| Amount Committed
|
Amount of HIPC assistance determined, in consultation with the World Bank, at the decision point to be made available by the IMF.
|
| Amount Disbursed
|
Resources disbursed to the member to help meet debt service payments to the IMF. Disbursements are normally dependent on receipt of sufficient financing assurances from other creditors.
|
| Table 4. Status of Multilateral Debt Relief Initiative Assistance
|
| as of May 24, 2007
|
| (In millions of SDRs) 1
|
(For definitions, see below)
|
|
|
|
|
|
|
|
|
Delivery
|
Eligible Debt
|
| Member
|
Date
|
GRA
|
PRGF
|
Total
|
|
|
|
|
|
|
| Benin
|
1/6/2006
|
--
|
36.1
|
36.1
|
| Bolivia
|
1/6/2006
|
89.8
|
71.2
|
160.9
|
| Burkina Faso
|
1/6/2006
|
--
|
62.1
|
62.1
|
| Cambodia
|
1/6/2006
|
--
|
56.8
|
56.8
|
| Cameroon
|
4/28/2006
|
--
|
173.3
|
173.3
|
| Ethiopia
|
1/6/2006
|
--
|
112.1
|
112.1
|
| Ghana
|
1/6/2006
|
--
|
265.4
|
265.4
|
| Guyana
|
1/6/2006
|
--
|
45.1
|
45.1
|
| Honduras
|
1/6/2006
|
--
|
107.5
|
107.5
|
| Madagascar
|
1/6/2006
|
--
|
137.3
|
137.3
|
| Malawi
|
9/1/2006 / 12/19/06 2
|
10.8
|
27.0
|
37.9
|
| Mali
|
1/6/2006
|
--
|
75.1
|
75.1
|
| Mauritania
|
6/22/2006
|
--
|
32.9
|
32.9
|
| Mozambique
|
1/6/2006
|
--
|
106.6
|
106.6
|
| Nicaragua
|
1/6/2006
|
--
|
140.5
|
140.5
|
| Niger
|
1/6/2006
|
--
|
77.6
|
77.6
|
| Rwanda
|
1/6/2006
|
--
|
52.7
|
52.7
|
| Sao Tome and Principe
|
3/19/2007
|
--
|
1.0
|
1.0
|
| Senegal
|
1/6/2006
|
--
|
100.3
|
100.3
|
| Sierra Leone
|
12/18/2006
|
--
|
117.3
|
117.3
|
| Tajikistan
|
1/6/2006
|
--
|
69.3
|
69.3
|
| Tanzania
|
1/6/2006
|
--
|
234.0
|
234.0
|
| Uganda
|
1/6/2006
|
--
|
87.7
|
87.7
|
| Zambia
|
1/6/2006
|
--
|
402.6
|
402.6
|
|
|
|
|
|
|
| Total
|
|
100.6
|
2,591.4
|
2,692.0
|
|
|
|
|
|
|
| 1 -- indicates zero value
|
|
|
|
|
| 2 MDRI assistance to Malawi was delivered in September 2006. Following the receipt of satisfactory financing assurances from other creditors, Malawi received additional MDRI assistance financed from HIPC topping-up assistance in December 2006.
|
| Table 4. Status of Multilateral Debt Relief Initiative Assistance
|
|
| |
| Term
|
Definition
|
| Debt Relief Delivery Date
|
The effective date of delivery of MDRI assistance to qualified members.
|
| Eligible Debt
|
|
| GRA
|
Assistance that covers credit outstanding under the GRA
|
| PRGF
|
Assistance that covers credit outstanding under the PRGF-ESF Trust
|
|
