Reporting on HIPC/MDRI Debt Relief Delivery by MDBs

Luca BandieraMDB Meeting on Debt Issues

July 8 & 9, 2009

When last we met . . .• Participants endorsed simplified approach to data

collection/reporting– Clear rationale, context & objectives

• Captures– Aggregated data on country basis– Flows before & after HIPC/MDRI– NPV of debt & stock of debt in nominal terms– Arrears

• Either template (single worksheet) or own reporting format acceptable

• PRMED committed to process data and publish in Annual HIPC/MDRI Status of Implementation Report

What type of data?• Debt service due before relief on debt outstanding at DP• Debt service due before HIPC relief (historical and projected) • HIPC relief (historical and projected)• Debt service due after HIPC relief (historical and projected)• End of period stock of debt outstanding, excluding arrears (to

end-2008) before HIPC relief– Stock of principal arrears before HIPC relief– Stock of interest arrears before HIPC relief

• End of period stock of debt outstanding– Stock of principal arrears after HIPC relief– Stock of interest arrears after HIPC relief

• New disbursements for each year

Priority data for HIPC/MDRI report

• Original request made on 28 May• Urgent request on 24 June for subset of

original data:– Debt service due before relief on debt

outstanding at DP– Debt service due before HIPC relief (historical

and projected) – HIPC relief (historical and projected)• In whatever format is most convenient• We’ll process the data either way

Outcome?• Out of the 25 MDBs that have committed

or are delivering HIPC relief– 11 have provided data (44%)

• Of which, AfDB, IaDB, IMF & WB (a given)• Therefore, only 7 newly compliant MDBs• Accounting for 94% of committed relief

– 14 have not reported• Of which 4 have acknowledged and are in process

of delivering (AFESD, CDB, IFAD & OFID)• And 10 have not acknowledged request despite

repeated reminders, etc.• Doesn’t account for 8 uncommitted MDBs!

Snapshot from draft reportHIPC Creditors COMMITTED (NPV) DELIVERED (NPV)

Costs ($m) %/total Costs ($m) %/totalDelivering or Committed to Deliver Debt Relief 21,255 99.7 10,095 47.5World Bank Group 10,641 49.9 5,040 47.4African Development Bank (AfDB) Group 2,889 13.6 1,422 49.2International Monetary Fund (IMF) 3,046 14.3 1,672 54.9Inter-American Development Bank (IaDB) 1,728 8.1 735 42.5European Union/European Investment Bank (EU/EIB) 741 3.5 686 92.6Central American Bank for Economic Integration (CABEI) 757 3.6 380 50.2International Fund for Agricultural Development (IFAD) 397 1.9 .. …Arab Bank for Economic Development in Africa (BADEA) 257 1.2 .. …OPEC Fund for International Development (OFID) 225 1.1 .. …Islamic Development Bank (IsDB) 2/ 140 0.7 140 100.0Corporación Andina de Fomento (CAF) 138 0.6 .. …Arab Fund for Social and Economic Development (AFESD) - 0.0 .. …Caricom Multilateral Clearing Facility (CMCF) 89 0.4 .. …West African Development Bank (BOAD) 66 0.3 .. …Asian Development Bank (AsDB) - 0.0 .. …Nordic Development Fund (NDF) 41 0.2 16 39.8Fund for the Financial Development of the River Plate Basin (FONPLATA) 37 0.2 .. …Caribbean Development Bank (CDB) 26 0.1 .. …Arab Monetary Fund (AMF) 18 0.1 .. …Central Bank of West African States (BCEAO) 9 0.0 .. …Nordic Investment Bank (NIB) 5 0.0 5 85.9East African Development Bank (EADB) 5 0.0 .. …Shelter Afrique 1 0.0 .. …Banco Interamericano de Ahorro y Préstamo (BIAPE) 0 0.0 .. …Uncommitted MDBs (total of 8) 61 0.3 0.0TOTAL 21,316 100.0 10,095 47.5

Status and next step• All data received to date has been

processed and will be an input for the HIPC/MDRI Status of Implementation Report for 2009– Will publish with or without any outstanding data

• ‘Drop-dead’ deadline to submit is 14 July– No exceptions > subject to Bank internal review process

• Further processing of data, involving whole dataset, is planned

In sum• Exercise more successful than past

attempts• Thankful for support received• Critical mass in terms of committed

relief has been achieved, BUT• . . . not in terms of numbers of MDBs• ‘collective action’ is the catchword and

the goal – absence of data conspicuous• A process that is likely to improve over

time – and worthwhile to continue

Thanks !

For assistance, please contact

Thor-Jurgen (tloberg@worldbank.org) and Luca (lbandiera@worldbank.org)