Leadership Council for Human Rights

~ Feet in the mud, head in the sky ~

Tuesday, April 24, 2007

Afghanistan deemed 'heavily indebted'; eligible for special assistance

The International Monetary Fund (IMF) announced Saturday that Afghanistan will now be eligible to receive assistance under the enhanced Heavily Indebted Poor Countries (HIPC) initiative.

However, the country will be asked to complete three benchmarks before they will be able to benefit from the dept relief assistance.

“Afghanistan has achieved strong and continued progress toward macroeconomic stability over the last few years, despite the difficult security environment. At the same time, wide-ranging structural reforms have been put in place…The pursuit of macroeconomic reforms, prudent debt management, and continued donor support on highly concessional terms will be needed to restore sustainability over the medium-term,” said Murillo Portugal, the deputy managing director and acting chair at the IMF.

For the full article, click here.


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