The Debt Sustainability Framework for Low-income Countries (LIC DSF) has been the cornerstone of assessments of risks to debt sustainability in LICs. The framework classifies countries based on their assessed debt-carrying capacity, estimates threshold levels for selected debt burden indicators,...

This notification summarizes the outcome of consultations with Washington-based representatives of participants in the General Arrangements to Borrow (GAB) on a possible renewal of the GAB decision. By way of background, the GAB was established in 1962 and is a standing agreement between the...

Background. The case for sovereign state-contingent debt instruments (SCDIs) as a countercyclical and risk-sharing tool has been around for some time and remains appealing; but take-up has been limited. Earlier staff work had advocated the use of growth-indexed bonds in emerging markets and...

This paper follows up on the Executive Board's December 2002 discussion of the design of the Sovereign Debt Restructuring Mechanism and seeks to make further progress on the formulation of a concrete proposal for a statutory sovereign debt restructuring mechanism

This paper responds to the Board's request for an assessment of eligible countries that could qualify for Fund debt relief under the MDRI once the requisite consents and requests have been received. Directors requested that, by end-2005, staff prepare, in collaboration with the World Bank, an...

In April 2006, the Executive Boards of the Bank and the Fund reviewed the debt sustainability framework (DSF) for low-income countries and the implications of the multilateral debt relief initiative. Directors thought that the DSF was broadly appropriate and that no major changes were warranted,...

The table provides information on HIPC (Heavily Indebted Poor Country) Initiative debt relief provided by each non-Paris Club official bilateral creditor to post-completion point HIPCs. It tracks the HIPC Initiative debt relief granted by these creditors so far. The table will be updated...