On March 31, 2009, the Executive Board approved Côte d'Ivoire's HIPC Initiative decision point and on March 27, 2009 a three-year arrangement under the Extended Credit Facility (ECF). The Board also approved interim assistance in the amount of SDR 5.0 million for the period April 2009-March 2010. The first ECF review was completed on November 18, 2009 and performance under the ECF-supported program has been broadly satisfactory. Côte d'Ivoire is making good progress on debt rescheduling.
Interim assistance under the enhanced HIPC Initiative is debt relief granted on its debt service falling due between the HIPC decision and completion points. Once it reaches the HIPC completion point, a country is allowed to receive the full debt relief committed at decision point.
IMF Executive Board Approved Additional Interim Assistance to Côte d'Ivoire
Special Correspondent - 2010-04-01 11:22
The Executive Board of the International Monetary Fund (IMF) granted additional interim assistance under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative in an amount equivalent to SDR 5.0 million (about $7.6 million) for the period April 2010 through March 2011 on a lapse of time basis.