Background

Background

Programme Lending

IMF, World Bank or other donor lending to support an adjustment programme.

6 September 2005 | Glossary

Background

Part I Countries

Donors to the International Development Association (IDA) who pay their contributions in freely convertible currency.

6 September 2005 | Glossary

Background

Least Developed Countries

Forty-eight poor and vulnerable countries, defined by the UN with an annual per capita income of less than US$ 1 per day.

6 September 2005 | Glossary

Background

Heavily-Indebted Poor Countries

Forty-one low-income countries whose external debt level is deemed to be unsustainable.

6 September 2005 | Glossary

Background

Executive Board

A committee of Executive Directors representing the decision-making forum for the World Bank and the IMF.

6 September 2005 | Glossary

Background

Development Assistance Committee

This committee within the OECD provides a forum for consultation among the 21 donor countries on how to increase the level and effectiveness of aid flows to recipient countries.

6 September 2005 | Glossary

Background

Southern Countries

Encompasses what is commonly termed as 'developing' and 'less developed' countries of Africa, Asia and Latin America.

6 September 2005 | Glossary

Background

Programme Aid

A type of structural adjustment loan used to help finance a government's budget, for example, the World Bank's Poverty Reduction Support Credit.

6 September 2005 | Glossary

Background

Paris Club

Informal association of credit country finance ministers and Central Bankers which meets to negotiate bilateral debt rescheduling agreements with indebted country governments.

6 September 2005 | Glossary

Background

Joint IMF-World Bank Implementation Committee

Committee comprising World Bank and IMF staff. The committee is responsible for monitoring the implementation of the Heavily Indebted Poor Countries Initiative and Poverty Reduction Strategies. For the latter, it prepares an assessment for both IMF and World Bank boards on the suitability of PRSPs.

6 September 2005 | Glossary

Background

Heavily-Indebted Poor Countries Initiative

Arrangement for reducing multilateral, bilateral and private sector debt for the poorest, most indebted countries.

6 September 2005 | Glossary