Afghanistan earns eligibility for debt relief

<i>Reuters reports that Afghanistan has become eligible for interim debt relief under the Heavily Indebted Poor Countries Initiative.</i> The World Bank and the International Monetary Fund placed Afghanistan into its roster of countries that would qualify to receive interim debt relief under the Heavily Indebted Poor Countries Initiative, or HIPC. &#8220;Despite a difficult security&#8230;

By Newswire Newsletter // 11 July 2007



The World Bank and the International Monetary Fund placed Afghanistan into its roster of countries that would qualify to receive interim debt relief under the Heavily Indebted Poor Countries Initiative, or HIPC. “Despite a difficult security environment and persistent expenditure pressures, Afghanistan continued to make progress by maintaining macroeconomic stability and advancing its structural reform agenda,” said IMF Deputy Managing Director Murilo Portugal. “However, the external debt position will remain difficult, even after the provision of HIPC debt relief.” As of March of last year, Afghanistan has incurred about $11.9 billion in foreign debt.

Source: Afghanistan qualifies for interim debt relief: IMF (Reuters)