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| Definition: |
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In the context of export credits, the risk of nonpayment by a non-sovereign or private sector buyer or borrower in his or her domestic currency arising from default, insolvency, and/or a failure to take up in the context of the HIPC Initiative, when the IMF and World Bank Executive Boards decide that a country has met the conditions for assistance under the Initiative.
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| Context: |
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The timing of the completion point depends on the satisfactory implementation of key structural policy reforms agreed at the decision point, the maintenance of macroeconomic stability, and the adoption and implementation of a poverty reduction strategy developed through a broad-based participatory process.
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| Source
Publication: |
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IMF, 2003, External Debt Statistics: Guide for Compilers and Users – Appendix III, Glossary, IMF, Washington DC.
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| Statistical
Theme: Financial statistics |
| Created
on Wednesday, August 27, 2003 |
| Last
updated on Wednesday, January 4, 2006 |
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