Development Finance International
26 July – IMF Cancels Haiti Debt
A total of US$268 million owed by Haiti will be cancelled under the new Post-Catastrophe Debt Relief Trust Fund (more details here ) set up by the IMF to assist very poor, highly indebted countries hit by natural disasters. Haiti will also receive a US$ 60 million loan under the Extended Credit Facility over 3 years with zero interest rate until end-2011, and will benefit from a technical assistance package aimed at encouraging private credit and investment. For the IMF press release, click here.
22 July - Analytical reports for The Gambia and Ghana
Latest analytical reports from The Gambia and Ghana are now available for download. The Gambia report tracks the unfolding impact of the global economic crisis, and the expansion of dynamic sectors including finance, real estate and tourism. The Ghana report describes the results of its pilot survey, and finds significant levels FDI and other investment.
12 July - UN Development Cooperation Forum Ministerial Meeting, New York.
This forum analysed trends in aid quantity, effectiveness and allocation; accountability and transparency; South-South and decentralized cooperation; the impact of food, financial and climate crises on aid; and an agenda to improve aid beyond 2010. DFI contributed to drafting the UN Secretary-General's report to the meeting, which can be seen here. The results of the meeting will feed into the process of negotiating the September MDG Summit outcome document, as well as into the UN International Development Cooperation Report which will be published in September.
9 July – Senegal Releases FPC monitoring Results and Benin Closes First Cycle
Senegal successfully closed its first cycle of the FPC CBP in March with an impressive response rate of 80%. It is now releasing results in a comprehensive report which analyses collected data on investor perception and foreign private capital. Click hereto read the detailed analysis and subsequent policy recommendations. Also in the region, Benin closed its first FPC CBP cycle with closing and dissemination workshop, thus completing their first national survey of foreign private capital and investor perception, with a high response 74.4% response rate. The country report with survey results and policy recommendations will soon be posted on this page. Future events in the Franc Zone will be Cameroon closing its second cycle, followed by other dissemination events Guinea Bissau, Niger and Togo.
8 July – HIPC Progress
Liberia has reached HIPC completion point. The World Bank and the IMF have agreed to cancel 90% of Liberia’s debt stocks, totaling US$4.6 billion. For more details, read the IMF press release. For the Jubilee Debt Campaign website, click here. Liberia is joined by the Democratic Republic of Congo, thus becoming the 30th country to reach completion point, and receiving US$12.3 billion of relief. For more details, read the IMF press release. In other news, decision point for Comoros has been reached under the enhanced HIPC Initiative. This is a step forward for Comoros to receive US$144.8 million in debt relief in PV terms. More information here.
