| Completion Point | Under the original HIPC Initiative, the point at which the first multilateral debt relief was provided.
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| Cut-Off Date | The HIPC Initiative only provides relief of debts accrued before this date, which is set on entry into the HIPC Initiative process.
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| Decision Point | Point reached after the first (maximum three-year) tranche of economic reform required before debt relief is delivered. Under the enhanced HIPC Initiative, the decision point is the point at which the amount of relief to be provided is decided, on the basis of the state of the economy at that time
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| Debt / Export ratio |
Ratio which measures debt sustainability by comparing the Net Present Value of public and publicly-guaranteed debts owed by the debtor government to its annual export revenues
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| DFID | Department for International Development
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| ECGD | Export Credits Guarantee Department
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| ESAF | Enhanced Structural Adjustment Facility: the concessional lending facility of the IMF for poor countries
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| Fiscal ratio / window |
The relationship between the amount of debt owed and annual fiscal revenues, which is used as a measure of debt sustainability for countries with particularly open economies
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| IDA | International Development Association - Concessional lending arm of the World Bank
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| Interim Relief | The provision of debt relief during the HIPC process, before the completion point has been attained
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| Mauritius Mandate | Speech made by Rt Hon Gordon Brown MP, Chancellor of the Exchequer, at Mauritius in October 1997. The speech included targets for the provision of debt relief and the rapid implementation of the HIPC Initiative
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| Net Present Value |
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| (NPV) | The sum of all future debt-service obligations (including interest and principal payments) on existing debt, discounted at the market discount rate.
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| PRGF | Poverty Reduction and Growth Facility, the replacement for the Enhanced Structural Adjustment Facility
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| Sunset Clause | Deadline for entry of countries into the HIPC Initiative Process. Originally set at December 1999, and subsequently extended to December 2000.
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| Sustainability Ratios |
Targets for the ratio of debt to export or fiscal revenues which, under the HIPC Initiative, are used to determine the amount of debt relief to be provided.
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