Niger to receive US$890 million in debt service relief -- The IMF and World Bank support debt relief for Niger under the enhanced HIPC Initiative.

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M2 PRESSWIRE-21 December 2000-IMF: Niger to receive US$890 million in debt service relief -- The IMF and World Bank support debt relief for Niger under the enhanced HIPC Initiative (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:20122000 Washington -- The International Monetary Fund (IMF) and the World Bank Group's International Development Association (IDA) agreed to support a comprehensive debt reduction package for Niger under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative.

Total relief from all of Niger's creditors is worth about US$890 million, corresponding to aboutUS$520 million in Net Present Value (NPV) terms, 1 which is equivalent to 53.5 percent of total debt outstanding after the full use of traditional debt relief mechanisms....