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Guinea - Completion Point under the Enhanced HIPC Initiative

07-Nov-2012

Guinea reached the decision point under the Heavily Indebted Poor Countries (HIPC) Initiative in December 2000. After more than a decade, the Executive Boards of the IMF and the World Bank respectively approved irrevocable debt relief for Guinea on 25 and 26 September 2012. Guinea thus became the 28th regional member country to reach the completion point, and should be granted assistance estimated at USD 639.2 million in end-December 1999 net present value terms, aimed at reducing the country's external debt burden to sustainable levels. By reaching the completion point, Guinea also benefits from additional debt cancellation under the Multilateral Debt Relief Initiative (MDRI).

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