The Republic of Guinea was declared eligible to the enhanced HIPC Initiative by the IDA and the IMF in 2000 and was declared to have reached its Completion Point in September 2012. In this context, the Republic of Guinea commits to promptly seek from all its bilateral and commercial external creditors which are not participating in the Agreed Minutes dated 25 October 2012 their appropriate contribution, in terms of debt relief, to the enhanced HIPC Initiative, on top of traditional debt relief mechanisms, and consistent with the proportional burden sharing based on their relative exposure in net present value of total external debt at Decision Point after the full use of traditional debt relief mechanisms.

The appropriate nature of the debt relief provided will be assessed not only on the basis of the reduction in the net present value of the debt as computed under the Appropriate Market Rate, but also on the terms of repayment of the debts not cancelled. For this purpose, all relevant elements will be taken into account, including the level of cash payments received by those creditors as compared to their share in the Republic of Guinea's external debt, the nature and characteristics of all treatment applied, including debt buy backs, all characteristics of the reorganized claims -and in particular their repayment terms, regardless of the forms they take- and, more generally, the financial relations between the Republic of Guinea and all their other creditors.

Consequently, the Republic of Guinea commits not to grant any category of external bilateral and commercial creditors -and in particular litigating creditors, creditor countries not participating in the Agreed Minutes dated 25 October 2012, commercial banks, suppliers and bondholders- a treatment more favourable than that granted to Participating Creditor Countries.