IMF, World Bank or other donor lending to support an adjustment programme.
Background
Background
Part I Countries
Donors to the International Development Association (IDA) who pay their contributions in freely convertible currency.
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.
Background
Heavily-Indebted Poor Countries
Forty-one low-income countries whose external debt level is deemed to be unsustainable.
Background
Executive Board
A committee of Executive Directors representing the decision-making forum for the World Bank and the IMF.
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.
Background
Capital Account Liberalisation
Removal of controls on the international flows on a country's capital account, enabling full currency convertibility and opening of the financial system.
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Southern Countries
Encompasses what is commonly termed as 'developing' and 'less developed' countries of Africa, Asia and Latin America.
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.
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.
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.
Background
Heavily-Indebted Poor Countries Initiative
Arrangement for reducing multilateral, bilateral and private sector debt for the poorest, most indebted countries.
