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Staff is of the view that all criteria have been met, and recommends that the Board determine that Ghana qualifies for immediate debt relief under the MDRI.q.

Debt relief.

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Our meeting takes place at an important juncture in the international community's efforts towards achieving the Millennium Development Goals (MDGs). It is now five years since we took up this enormous challenge, and there is a sense of renewed urgency. The recent UN World Summit on Implementing the Millennium Declaration reaffirmed the commitments made in Monterrey, but stressed the need for more progress, particularly in Sub-Saharan Africa. In addition, at the African Union and G-8 Summits, African leaders and their counterparts in the G-8 committed themselves to intensify their efforts.

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Tajikistan is not a HIPC country. It is, however, eligible under the MDRI because it had a per capita annual GDP of below USD 380 as of 2004. Staff is of the view that all criteria have been met, and recommends that the Board determine that Tajikistan qualifies for immediate debt relief under the MDRI.

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Burkina Faso reached the completion point under the enhanced HIPC Initiative on April 12, 2002. Staff is of the view that all criteria have been met and recommends that the Board determine that Burkina Faso qualifies for immediate debt relief under the MDRI.

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Building on initial discussions of the proposed framework in February/March 2004, and further considerations in September 2004, this paper responds to remaining concerns that need to be resolved to make the framework operational. These concerns relate to the indicative debt-burden thresholds (Section II); the interaction of the framework with the HIPC Initiative (Section III); and the modalities for Bank-Fund collaboration in deriving a common assessment of sustainability (Section IV). This note should be read in conjunction with the original proposal, which presented the wider issues on the use of the indicative thresholds, the evaluation of policies and institutions, and the need for discretion when assessing sustainability on a forward-looking basis.

Debt relief.