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.
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