Supporting agreements with the international institutions
program with the IMF under the Poverty reduction and growth facility approved on September 13, 2002
Total external debt of the country
$1 324 million as of December 31, 2002
$291 million of which being due to Paris Club as of December 01, 2003
Amounts treated
$248 million of which $156 million being canceled, of which $92 million being rescheduled
Accorded treatment
Reduction of the stock of debt
Completion point reached on December 18, 2003
Categories of debt treated
Treatment of the stock as of December 01, 2003
Repayment profile
Treatment under HIPC Initiative Exit terms
Specific provisions
Possibility to conduct debt swaps
On a voluntary and bilateral basis, the Government of each creditor country or its appropriate institutions may sell or exchange, in the framework of debt for nature, debt for aid, debt for equity swaps or other local currency debt swaps: (i) the amounts of outstanding loans mentioned in Article II paragraph 1 above as regards Official Development Assistance loans; (ii) the amounts of other outstanding credits mentioned in Article II paragraph 1, up to 20% of the amounts of outstanding credits as of May 6, 1993 or up to an amount of 10 million SDR, whichever is higher.
Payment of non-consolidated amounts before July 01, 2004
Comparability of treatment provision
The Republic of Guyana commits to seek promptly from all its external creditors which are not participating in the present Agreed Minute 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.
Cut-off date
December 31, 1988
Organisation of the session
The meeting was chaired by Mr. Ramon Fernandez, Vice-Chairman of the Paris Club.
The head of the debtor country's delegation was Mr. Saisnarine Kowlessar, Minister of Finance.
- AUSTRALIA, ITALY, NORWAY, SWITZERLAND
Files attached
Prguya6870.pdf (92.82 KB)