PostHIPC Debt Sustainability and Commonwealth HIPCs

image of PostHIPC Debt Sustainability and Commonwealth HIPCs
The debt problem facing poor countries has been at the heart of Commonwealth concerns since the 1980s. The Heavily Indebted Poor Countries (HIPC) Initiative has made important strides in providing comprehensive debt relief to the world’s poorest, most heavily indebted countries, cutting the total external debt of 26 out of the 42 eligible countries by twothirds.

The report presents discussions held at the 2003 Dar es Salaam HIPC Ministerial Forum and calls for a number of actions to deal with both immediate concerns and the issues surrounding longterm debt sustainability in HIPCs.



Domestic Debt and Fiscal Sustainability

At Lilongwe, Ministers recognised that debt sustainability was incomplete without the consideration of domestic debt. As both external and domestic debt have to be serviced by governments, it is important to consider fiscal sustainability of total debt – both external and domestic.


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