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IMF,IDA agree to support debt reduction

    ABIDJAN

    The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support Mauritania's eligibility for a debt reduction package under the enhanced Heavily Indebted Poor Countries (HIPC) initiative.

    In net present value terms, total relief from all of Mauritania's
    creditors would amount to US$622 million, equivalent to about 40 percent of total debt outstanding at the end of 1998, the IMF said in a news release. This is expected to translate into debt relief over time of approximately US$1.1 billion, according to the IMF.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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