Monitoring Policy Making at the United Nations |
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Debt Relief Approved Under the
Enhanced HIPC Initiativeas of November 15, 2000
Source: The Economist
1 Net Present Value of Debt
The net present value (NPV) of debt is a measure that takes into account the degree of concessionality. It is defined as the sum of all future debt-service obligations (interest and principal) on existing debt, discounted at the market interest rate. Whenever the interest rate on a loan is lower than the market rate, the resulting NPV of debt is smaller than its face value, with the difference reflecting the grant element.
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