T.A For HIPC Eligibility Assessment.
Approval date: 30/07/2013
Start date: 28/10/2013
Appraisal Date: 01/05/2013
Project Cost: UAC 68,242
Description : The project will be split into two components:
HIPC Initiative Assessment exercise:This sub-component will have the following activities:
(i) conduct Debt Sustainability Analysis (DNA) and HIPC initiative eligibility assessment in line with the format and procedures applied by other partners, including the IMF;
(ii) designing detailed options/scenarios for external debt arrears clearance and debt relief including restructuring taking into account hypothetical traditional debt relief assumptions; (iiii)reviewing and undertaking macroeconomic forecasts;
(iv) using the Debt-pro system to conduct simulations and analysis of the results as a basis for assessing the country%s eligibility for debt relief under the HIPC Initiative(
(vi)identify any gaps in the macroeconomic, external and domestic debt database and seek ways of filling them; (vii) prepare a report on the assessment of HIPC Initiative eligibility and to senior policy makers (viii) conducting capacity building and training for country officials; (ix) conduct necessary long distance follow-up work with development partners and international institutions.
Training-under this sub-component, the project will provide capacity building to civil servants working in the ZADMO to
(i) acquire sufficient knowledge in the use of Debt pro system in assessing HIPC Initiative eligibility;
(ii) initiative consultations on planning and negotiation on best available new borrowing policy to support economic development growth and poverty reduction;
(iii) formulate negotiation strategies for maximum debt relief from creditors;
(iv) develop an overview of the HIPC Initiative and eligibility criteria; and the timing and procedural steps of debt relief and poverty strategies (PRGF) under HIPC II;
(v) design detailed options/scenarios for external debt arrears clearance and debt relief including restructuring
(iv) analyse possible scenario based on the Debt-Pro system;
(v) obtain sufficient practical knowledge in use of Debt-pro system to conduct simulations and analysis of the results;
(vi) design poverty reduction policy and implementation;(vii) obtain the skills in debt renegotiation (Paris Club, non-OECD bilateral, commercial, multilateral); (viii) formulate new borrowing policy (rules, procedures, policies, implementation) and; (ix) draw up macroeconomic data and projections.
The overall objective of the TA grant is to enable Zimbabwe to undertake a debt sustainability analysis and to formulate a roadmap to accessing debt relief under HIPC; and also
(ii) to build national capacity to design, update and implement strategy, construct poverty reduction plans, and carry out portfolio-review analysis and for debt sustainability analysis.
Zimbabwe adopted the Accelerated
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