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At the July 2005 G8 Summit in Gleneagles, Scotland, G8 leaders pledged to cancel the debt of the world's most indebted countries. A buildup of foreign debt, owed by many low-income countries throughout the 1970s and 1980s, left many nations with unsustainable debt burdens. A number of creditors, including the main multilaterals, joined the G8 decision to provide debt relief for the Heavily Indebted Poor Countries (HIPC).

Ever since, Multilateral Development Banks have met annually to discuss debt and related issues. The meeting has focused on progress in the implementation and financing of the HIPC Initiative, which was launched in 1996 to call on the voluntary provision of debt relief by all creditors. Other points covered have included country-specific HIPC cases, participation of creditors as well as debt sustainability in LICs in the context of the HIPC Debt Relief Initiative and the Multilateral Debt Relief Initiative (MDRI).

Invitees are mainly representatives from multilateral institutions from around the world. Bilateral creditors also participate.

A G E N D A

MULTILATERAL DEVELOPMENT BANKS’ MEETING ON DEBT ISSUES

The World Bank, Washington, DC

F 5P-100 (IFC Building, 2121 Pennsylvania Avenue, NW)

Tuesday, May 6, 2014

08:30 AM        Registration & Breakfast

09:00 AM        Welcoming Remarks

Jeffrey D. Lewis, Director, PRMET, World Bank

I.                    HEAVILY INDEBTED POOR COUNTRIES UPDATE

09:15 AM        Global Economic Prospects

                        Andrew Burns, Manager, DECPG, World Bank

10:00 AM        Update on the HIPC/MDRI Initiatives/Post-HIPC

                        Leonardo Hernandez, Lead Economist, PRMED, World Bank

10:45 AM        COFFEE BREAK

11:00 AM        Status of MDB Operations:  Emerging issues for Debt Management

                        Sirpa Jarvenpaa, Director, Operational Planning and Coordination Division, ADB

01:00 PM         LUNCH – Room F 8P-100

II.         UPDATE ON DEBT ACTIVITIES

2:30 PM           Non-Concessional Borrowing Policies of MDBs and IFIs

                        Benoit Chervalier, Head, Resource Mobilization Unit, AfDB

                        Reza Baqir, Division Chief, Strategy and Policy Review Department, IMF

3:30 PM           Debt Management Facility Briefing

Abha Prasad, DMF Program Manager/Senior Debt Specialist, PRMED, World Bank

4:30 PM           UPDATE OF GUIDELINES FOR PUBLIC DEBT MANAGEMENT

                        Sudarshan Gooptu, Sector Manager PRMED, World Bank

5:30 PM – 7:30 PM     RECEPTION – Room F L-101 

Wednesday, May 7, 2014

08:30 AM        Breakfast

III.                EMERGING ISSUES IN DEVELOPMENT FINANCING

9:00 AM          Challenges of Debt Sustainability During Democratic Transition: Lessons for the Arab Countries

Taoufik Rajhi, Chief Research Economist, Research Department, AfDB

10:00 AM        Debt Reduction in Small States: Debt-for-CLIMATE ADAPTATION Swaps

                        Zeinab Partow, Senior Economist, PRMED, World Bank

10:45 AM        COFFEE BREAK

11:00 AM        THE FUTURE OF MDB MEETINGs ON DEBT ISSUES

                        All Participants

11:30 AM        Chairman’s Summary & Wrap-up

                        Jeffrey D. Lewis, Director, PRMET, World Bank

12:00 PM         Light lunch