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Poverty Reduction Strategy Papers (PRSP)

Background of Poverty Reduction Strategy Papers (PRSP)

Poverty Reduction Strategy Papers (PRSP) describe a country's macroeconomic, structural, and social policies and programs to promote growth and reduce poverty, as well as associated external financing needs. PRSPs are prepared by governments through a participatory process that involves civil society and development partners, including the World Bank and the International Monetary Fund (IMF).

Poverty Reduction Strategy Papers provide the basis for World Bank and IMF assistance as well as debt relief under the HIPC (Heavily Indebted Poor Countries) Initiative. PRSPs should be country-driven, comprehensive, partnership-oriented, and participatory. A country only needs to write a PRSP every three years; however, changes can be made to the content of a PRSP using an Annual Progress Report.  For more information, please refer to the World Bank Povertynet website.

Seychelles Poverty Reduction Strategy Paper (PRSP)

As of June 2004, Seychelles had not presented a PRSP to the World Bank.  Seychelles is classified as an upper-middle income country with the highest estimated per capita income in Africa of about US$6,780. The country has experienced reasonably equitable economic growth and there has been significant progress in social conditions.

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