The Multilateral Debt Relief Initiative (MDRI) which provides for 100 percent cancellation of eligible debt owed to International Development Association (IDA) by countries reaching the completion point for the Heavily Indebted Poor Country (HIPC) initiative has been under implementation since July 2006. Under the MDRI, IDA's 'gross assistance flows' to countries benefiting from debt relief are reduced by the amount of annual debt service forgiven...
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