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Critically examine the role of international credit in contemporary economies - Essay Example

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1 During the World Bank's FY 2007, an exception to the GNI per capita operational cutoff for IDA eligibility (a 2007 GNI per capita of US$1,095) has been made for some small island economies; these countries continue to be eligible for PRGF and IDA assistance, notwithstanding their per capita income levels.
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Critically examine the role of international credit in contemporary economies
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Download file to see previous pages 2 Since September 24, 2001 ineligible due to overdue financial obligations to the PRGF Trust.
Table 1. Country Coverage of the MDRI

Eligible under the "MDRI-I Trust" (per-capita income at or below US$380) Eligible under the "MDRI-II Trust" (per-capita income above US$380)
Countries that have benefited from MDRI as of end-September, 2008
"Completion point" HIPCs: 23 countries that have reached the completion point under the Enhanced HIPC Initiative Burkina Faso, Ethiopia, The Gambia, Ghana, Madagascar, Malawi, Mali, Mozambique, Niger, Rwanda, So Tom and Prncipe, Sierra Leone, Tanzania, Uganda Benin, Bolivia, Cameroon,Guyana, Honduras, Mauritania, Nicaragua, Senegal, Zambia
Non-HIPC countries (2) with per capita income below US$380 and outstanding debt to the IMF Cambodia, Tajikistan
Countries that will be eligible once they reach the completion point under the Enhanced HIPC Initiative
"Decision point" HIPCs: 10 countries that have reached the decision point under the Enhanced HIPC Initiative Afghanistan, Burundi, Central African Republic, Chad, Democratic Republic of the Congo, Guinea-Bissau Guinea, Haiti, Republic of Congo
Liberia 1
8 additional countries may wish to be considered for HIPC debt relief. They met the income and indebtedness criteria based on end-2004 data.
Eritrea, Nepal, Togo Comoros, Cte d'Ivoire, Kyrgyz Republic, Sudan
Precise data on the per capita income of Somalia are not available at this juncture.
1 Liberia has no MDRI-eligible debt to the IMF but is expected to receive additional beyond-HIPC debt relief from the IMF to fully cover its remaining eligible debt outstanding at the...
"Decision point" HIPCs: 10 countries that have reached the decision point under the Enhanced HIPC Initiative Afghanistan, Burundi, Central African Republic, Chad, Democratic Republic of the Congo, Guinea-Bissau Guinea, Haiti, Republic of Congo
1 Liberia has no MDRI-eligible debt to the IMF but is expected to receive additional beyond-HIPC debt relief from the IMF to fully cover its remaining eligible debt outstanding at the completion point.
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