Supporting agreements with the international institutions
Stand-by Arrangement approved on July 03, 2002
Total external debt of the country
$7 293 million as of December 31, 2001
$4 171 million of which being due to Paris Club as of June 30, 2002
Amounts treated
Accorded treatment
Exit treatment to graduate from rescheduling
Categories of debt treated
Treatment of arrears as of June 30, 2002
Treatment of maturities falling due from July 01, 2002 up to December 31, 2007
Repayment profile
Treatment under Houston terms
- repayment of non ODA credits over 18 years, with 3 years of grace
- repayment of ODA credits over 20 years with 10 years of grace
Specific provisions
Possibility to conduct debt swaps
Moreover, on a voluntary and bilateral basis, Participating Creditors Countries may sell or exchange, in the framework of debt for nature, debt for aid, debt for equity swaps or other local currency debt swaps, all the pre cut off ODA loans as well as the pre cut off date commercial credits (up to 30% of the amounts of outstanding credits as of December 31, 1991 or up to an amount of 40 million SDR, whichever is higher).
Free transferability provision
The Government of the Hashemite Kingdom of Jordan undertakes to continue to permit the unrestricted transfer of foreign exchange due by the private debtors in the Hashemite Kingdom of Jordan for servicing their foreign debt owed to or guaranteed by the Participating Creditor Countries or their appropriate institutions and not subject to the present reorganization.
Phases
- First phase : From July 01, 2002 up to June 30, 2003, implemented at the signature of the agreement
- Second phase : From July 01, 2003 up to June 29, 2004, implemented on July 16, 2003
- Third phase : From July 01, 2004 up to December 31, 2007, implemented on June 24, 2004
De minimis threshold of 500 000 SDR
Comparability of treatment provision
The Government of the Hashemite Kingdom of Jordan commits to accord all categories of creditors -and in particular creditor countries not participating in the present Agreed Minute, commercial banks and suppliers- a treatment not more favourable than that accorded to the Participating Creditor Countries for credits of comparable maturity and legal basis.
Cut-off date
January 01, 1989
Organisation of the session
The meeting was chaired by Mrs Stéphane Pallez, Co-Chairperson of the Paris Club.
The head of the debtor country's delegation was Mr. Michel Marto, Minister of Finance.
Files attached
jord2002cpen6870.pdf (26.92 KB)