Treatment of maturities falling due from July 01, 1999 up to June 30, 2002
Repayment profile:
Treatment under Cologne terms (cancellation rate of 90%)
repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 90%
repayment of ODA credits over 40 years with 16 years of grace
Specific provisions:
Possibility to conduct debt swaps
On a voluntary and bilateral basis, the Government of each Participating 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) all Official Development Aid loans ; (ii) amounts of outstanding credits, loans and consolidations on debts [treated in the present Agreed Minute] other than official development aid loans, up to 20% of the amounts of outstanding credits as of December 31, 1992 or up to an amount of 20 million SDR, whichever is higher. Participating creditor countries and the Islamic Republic of Mauritania will inform semi-annually the Secretariat of the Paris Club, who will inform other Creditors, of the debt swap agreements they have implemented. All elements necessary to evaluate the operation, its impact on Mauritania's economy and on the evolution of creditor's exposure will be transmitted to the Secretariat, including : its nature and purpose ; the parties to the debt swap ; the amount, type and value of the debt treated ; the price of sale to investors and the expense of the Islamic Republic of Mauritania.
Good will clause
Given the decision by Paris Club Creditors to contribute to the exceptional assistance in favour of the Islamic Republic of Mauritania under the enhanced Debt Initiative for the Heavily Indebted Poor Countries (HIPC), the Participating Creditor Countries declare their readiness in principle to hold at completion point a meeting designed to examine the question of the Islamic Republic of Mauritania's outstanding debt stock and to make the necessary effort, in favour of the Islamic Republic of Mauritania to reach the objective of its debt sustainability in the context of an equitable burden sharing among creditors, provided that :
- the Islamic Republic of Mauritania maintains satisfactory relations with participating Creditor Countries, fully implements all the agreements signed with them and maintains a sound adjustment track record ;
- the Boards of the International Monetary Fund and the World Bank decide that the Islamic Republic of Mauritania has reached its completion point under the enhanced Debt Initiative for the Heavily Indebted Poor Countries.
Free transferability provision
The Government of the Islamic Republic of Mauritania will take the relevant administrative measures or extend existing measures to ensure that private debtors in Mauritania will be permitted to pay into the Bank of the Islamic Republic of Mauritania or its designated agents, the local currency counterpart of their obligations past due or falling due, corresponding to their debt of any nature owed to or guaranteed by the Participating or Observer Creditor Countries or their appropriate institutions. The Government of the Islamic Republic of Mauritania will guarantee the immediate and unrestricted transfer of the foreign exchange counterpart of all amounts paid in local currency by the private debtors in Mauritania corresponding to the above mentioned debts.
Phases
First phase : From July 01, 1999 up to October 31, 2000, implemented at the signature of the agreement
Second phase : From November 01, 2000 up to October 31, 2001, implemented on March 19, 2001
Third phase : From November 01, 2001 up to June 30, 2002, not implemented
De minimis threshold of 500 000 SDR
Payment of non-consolidated amounts before July 31, 2000
Comparability of treatment provision:
In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Islamic Republic of Mauritania commits itself to seek promptly from all its external creditors debt reduction and reorganization arrangements on terms comparable in net present value to those set forth in the present Agreed Minute for credits of comparable maturity. Comparability of treatment for debt reduction in net present value is assessed not only on the basis of the reduction in the face value of the debt but also on the terms of repayment of the debts not cancelled.
Consequently, the Government of the Islamic Republic of Mauritania commits itself 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 the purpose of the comparison between the arrangements concluded by the Government of the Islamic Republic of Mauritania with its creditor countries not listed in the present Agreed Minute on the one hand, and with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the real exposure of the creditor countries not listed in the present Agreed Minute, the level of cash payments received by those creditor countries from the Government of the Islamic Republic of Mauritania as compared to their share in the Islamic Republic of Mauritania's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take and in general the financial relations between the Government of the Islamic Republic of Mauritania and the creditor countries not listed in the present Agreed Minute.
The Government of the Islamic Republic of Mauritania will inform in writing the Chairman of the Paris Club no later than September 30, 2000 of the progress made for this purpose in negotiations with other creditors mentioned [...] hereabove, and will communicate to the Chairman of the Paris Club the content of its bilateral agreements with these creditors.
repayment of ODA credits over 40 years with 16 years of grace
Rescheduling of loans, credits and consolidations granted under ODA conditions at rates and conditions of interest at least as favorable as the concessional rate applying to those loans, and in any case not more than the Appropriate Market Rate.
Specific provisions:
Possibility to conduct debt swaps
On a voluntary and bilateral basis, the Government of each Participating 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) all ODA loans;
(ii) the amounts of other outstanding credits, loans and consolidations, up to 20% of the amounts of outstanding credits as of 31 December 2000 or up to an amount of SDR 5 million, whichever is higher.
Participating Creditor Countries and the Government of the Republic of Malawi shall inform semi-annually the Secretariat of the Paris Club, who shall inform other creditors, of the debt swaps agreements they have implemented. All elements necessary to evaluate the operation, its impact on the Republic of Malawi's economy and on the evolution of Creditor's exposure shall be transmitted to the Secretariat, including: its nature and purpose; the parties to the debt swap; the amount, type and value of the debt treated; the price of sale to investors and the expense of the Republic of Malawi.
Payment of non-consolidated amounts before May 01, 2007
Comparability of treatment provision:
The Republic of Malawi 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 on 31 August 2006. In this context, the Republic of Malawi commits to seek promptly from all its external creditors which are not participating in the Agreed Minutes dated October 19, 2006, 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 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 Malawi's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take and in general the financial relations between the Republic of Malawi and creditor countries not listed in these Agreed Minutes.
Consequently, the Republic of Malawi commits not to accord any category of creditors -and in particular creditor countries not participating in these Agreed Minutes, commercial banks, suppliers and bondholders- a treatment more favourable than that accorded to the Participating Creditor Countries.
Cut-off date:
January 01, 1997
Organisation of the session:
The meeting was chaired by Mr. Ambroise Fayolle, Co Chairman of the Paris Club.
The head of the debtor country's delegation was Mr. Goodall E. Gondwe, Minister of Finance.
Restructuring of the public external debt. Given its strong track-record of reforms as well as the burden of its external indebtedness, Malawi reached on December 21, 2000 its decision point under the enhanced HIPC Initiative and was granted an arrangement under the Poverty Reduction and Growth Facility with the International Monetary Fund.
Categories of debt treated:
Treatment of maturities falling due from December 01, 2000 up to September 01, 2006
Repayment profile:
Treatment under Cologne terms (cancellation rate of 90%)
repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 90%
repayment of ODA credits over 40 years with 16 years of grace
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) all ODA loans ; (ii) the amounts of other outstanding credits, loans and consolidations, up to 20% of the amounts of outstanding credits as of December 31, 2000 or up to an amount of SDR 5 million, whichever is higher. Participating creditor countries and the Government of the Republic of Malawi will inform semi-annually the Secretariat of the Paris Club, who will inform other creditors, of the debt swaps agreements they have implemented. All elements necessary to evaluate the operation, its impact on the Republic of Malawi's economy and on the evolution of creditor's exposure will be transmitted to the Secretariat including : its nature and purpose ; the parties to the debt swap ; the amount, type and value of the debt treated ; the price of sale to investors and the expense of the Republic of Malawi.
Given the decision by Paris Club Creditors to contribute to the exceptional assistance in favour of the Republic of Malawi under the enhanced Debt Initiative for the Heavily Indebted Poor Countries, the Participating Creditor Countries declare their readiness in principle to hold at completion point a meeting designed to examine the question of the Republic of Malawi's outstanding debt stock and to make the necessary effort, in favor of the Republic of Malawi to reach the objective of its debt sustainability in the context of an equitable burden sharing among creditors, provided that :
- the Republic of Malawi maintains satisfactory relations with participating Creditor Countries, fully implements all the agreements signed with them and maintains a sound adjustment track record ;
- the Boards of the International Monetary Fund and the International Development Association decide that the Republic of Malawi has reached its completion point under the enhanced Debt Initiative for the Heavily Indebted Poor Countries.
Pullback clause
The Participating Creditor Countries will review the implementation of the conditions regarding the conditions for the entry into force of the phases. hereabove. If in light of the decisions taken by the Board of the International Monetary Fund, the Participating Creditor Countries determine that these conditions were not fulfilled for the implementation of the Agreed Minute they may declare part or all of the provisions set forth in the Agreement null and void.
Phases
First phase : From December 01, 2000 up to December 31, 2001, implemented at the signature of the agreement
Second phase : From January 01, 2002 up to December 31, 2002, implemented on November 17, 2003
Third phase : From January 01, 2003 up to September 01, 2006, implemented on November 17, 2003
De minimis threshold of 100 000 SDR
Payment of non-consolidated amounts before April 30, 2001
Comparability of treatment provision:
In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Malawi commits itself to seek promptly from all its external creditors debt reduction and reorganization arrangements on terms comparable in net present value to those set forth in the Agreed Minute dated January 25, 2001 for credits of comparable maturity. Comparability of treatment for debt reduction in net present value is assessed not only on the basis of the reduction in the face value of the debt but also on the terms of repayment of the debts not cancelled.
Consequently, the Government of the Republic of Malawi commits itself to accord all categories of creditors -and in particular creditor countries not participating in the Agreed Minute, commercial banks and suppliers- a treatment not more favorable than that accorded to the Participating Creditor Countries.
For the purpose of the comparison between the arrangements concluded by the Government of the Republic of Malawi with its creditor countries not listed in the Agreed Minute on the one hand, and arrangements with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the exposure of the creditor countries not listed in the Agreed Minute, the level of cash payments received by those creditor countries from the Government of the Republic of Malawi as compared to their share in the Republic of Malawi's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take and in general the financial relations between the Government of the Republic of Malawi and the creditor countries not listed in the Agreed Minute.
Cut-off date:
January 01, 1997
Organisation of the session:
The meeting was chaired by Mr. Bruno BEZARD, Vice Chairman of the Paris Club.
The head of the debtor country's delegation was Dr Mathews A.P. CHIKAONKA, Minister of Finance, Economy and Plan.
Treatment of maturities falling due from December 01, 2000 up to November 30, 2004
Repayment profile:
Treatment under Cologne terms (cancellation rate of 90%)
repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 90%
repayment of ODA credits over 40 years with 16 years of grace
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) all ODA loans ; (ii) the amounts of other outstanding credits, loans and consolidations mentioned in paragraph 1. above, up to 20% of the amounts of outstanding credits as of December 31, 1994 or up to an amount of SDR 20 million, whichever is higher. Participating creditor countries and the Government of the Republic of Madagascar will inform semi-annually the Secretariat of the Paris Club, who will inform other creditors, of the debt swaps agreements they have implemented. All elements necessary to evaluate the operation, its impact on the Republic of Madagascar's economy and on the evolution of creditor's exposure will be transmitted to the Secretariat including : its nature and purpose ; the parties to the debt swap ; the amount, type and value of the debt treated ; the price of sale to investors and the expense of the Republic of Madagascar.
Good will clause
Given the decision by Paris Club Creditors to contribute to the exceptional assistance in favour of the Republic of Madagascar under the enhanced Debt Initiative for the Heavily Indebted Poor Countries, the Participating Creditor Countries declare their readiness in principle to hold a meeting at the completion point designed to examine the question of the Republic of Madagascar's outstanding debt stock and to make the necessary effort, in favour of the Republic of Madagascar to reach the objective of its debt sustainability in the context of an equitable burden sharing among creditors, provided that :
- the Republic of Madagascar maintains satisfactory relations with participating Creditor Countries, fully implements all the agreements signed with them and maintains a sound adjustment track record ;
- the Boards of the International Monetary Fund and the International Development Association decide that the Republic of Madagascar has reached its completion point under the enhanced Debt Initiative for the Heavily Indebted Poor Countries.
Phases
First phase : From December 01, 2000 up to December 31, 2001, implemented at the signature of the agreement
Second phase : From January 01, 2002 up to December 31, 2002, implemented on January 20, 2003
Third phase : From January 01, 2003 up to November 30, 2004, implemented on July 10, 2003
Payment of non-consolidated amounts before June 30, 2001
Comparability of treatment provision:
In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Madagascar commits itself to seek from all its external creditors debt reduction and reorganisation arrangements on terms comparable in net present value to those set forth in the present Agreed Minute for credits of comparable maturity. Comparability of treatment for debt reduction in net present value is assessed not only on the basis of the reduction in the face value of the debt but also on the terms of repayment of the debts not cancelled.
Consequently, the Government of the Republic of Madagascar commits itself 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 favorable than that accorded to the Participating Creditor Countries.
For the purpose of the comparison between the arrangements concluded by the Government of the Republic of Madagascar with its creditors not listed in the present Agreed Minute on the one hand, and arrangements with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the exposure of the creditors not listed in the present Agreed Minute, the level of cash payments received by those creditors from the Government of the Republic of Madagascar as compared to their share in the Madagascar's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganised claims and in particular their repayment terms whatever forms they take, and in general the financial relations between the Government of the Republic of Madagascar and the creditors not listed in the present Agreed Minute.
Cut-off date:
July 01, 1983
Organisation of the session:
The meeting was chaired by M. Bruno Bézard, Vice President of the Paris Club.
The head of the debtor country's delegation was M. Tantely Andrianarivo, Prime Minister, Minister of Finances.
On a voluntary and bilateral basis, the Government of each Participating 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 debt swaps : (i) all ODA loans ; (ii) amounts of outstanding credits, loans and consolidations, other than Official Development Aid loans, on debts [treated in the present Agreed Minute], up to 20% of the amounts of outstanding claims as December 31, 1993 or up to an amount of 20 million SDR, whichever is higher. Participating Creditor Countries and the Republic of Kenya will inform semi-annually the Secretariat of the Paris Club, who will inform other creditors, of the debt swap agreements they have implemented. All elements necessary to evaluate the operation, its impact on the Republic of Kenya's economy and on the evolution of creditor's exposure will be transmitted to the Secretariat, including : its nature and purpose ; the parties to the debt swap ; the amount, type and value of the debt treated ; the price of sale to investors and the expense of the Republic of Kenya.
Free transferability provision
The Government of the Republic of Kenya will continue to guarantee with an appropriate exchange rate system the immediate and unrestricted transfer of foreign exchange counterpart of all amounts paid in local currency by the private debtors in Kenya for servicing their foreign debt owed to or guaranteed by the Participating or Observer Creditor Countries or their appropriate institutions.
De minimis threshold of 500 000 SDR
Payment of non-consolidated amounts before June 30, 2001
Comparability of treatment provision:
In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Kenya commits itself to seek promptly from all its external creditors debt reorganisation arrangements on terms comparable to those set forth in the present Agreed Minute, while trying to avoid discriminations among different categories of creditors.
Consequently, the Government of the Republic of Kenya commits itself to accord all categories of creditors -and in particular creditor countries not participating in the present Agreed Minute, and private creditors- a treatment not more favourable than that accorded to the Participating Creditor Countries for credits of comparable maturity.
Cut-off date:
December 31, 1991
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 Hon. Chrisanthus B. OKEMO, Minister of Finance.
Debt relief of the external public debt on 11th April 2012, following the approval by the International Monetary Fund (IMF) of a new three-year arrangement under the Extended Credit Facility on 24th February 2012
Categories of debt treated:
Treatment of arrears as of December 31, 2011. Treatment of the stock as of January 01, 2012
Treatment of maturities falling due from January 01, 2012 up to December 31, 2014
repayment of non ODA credits over 23 years, with 6 years of grace
repayment of ODA credits over 40 years with 16 years of grace
On an exceptional basis, considering the Republic of Guinea's limited capacity of payment, creditors have also agreed to defer and reschedule over an eight-year period the repayment of maturities due by the Republic of Guinea on short term and post cut-off date debts; and, over a three-year period the arrears on those claims. They also agreed to defer all the interest due on the amounts treated.
Specific provisions:
Possibility to conduct debt swaps
On a voluntary and bilateral basis, the Government of each Participating 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) all official development assistance loans;
(ii) the amounts of outstanding credits, loans and consolidations, up to 20% of the amounts of outstanding credits as of 31st December 1992 or up to an amount of 20 million SDR, whichever is higher.
Phases
First phase : From January 01, 2012 up to December 31, 2012, implemented at the signature of the agreement
Second phase : From January 01, 2013 up to December 31, 2013, not implemented
Third phase : From January 01, 2014 up to December 31, 2014, not implemented
Comparability of treatment provision:
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 Decision Point in December 2000. In this context, the Republic of Guinea commits to seek promptly from all its external creditors which are not participating in the Agreed Minutes dated 11 April 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 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, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take and in general the financial relations between the Republic of Guinea and creditor countries not listed in the Agreed Minutes dated 11 April 2012.
Consequently, the Republic of Guinea commits not to accord any category of creditors -and in particular creditor countries not participating in the Agreed Minutes dated 11 April 2012, commercial banks, suppliers and bondholders- a treatment more favourable than that accorded to the Participating Creditor Countries.
Cut-off date:
January 01, 1986
Organisation of the session:
The meeting was chaired by Mr. Ramon FERNANDEZ, Chairman of the Paris Club.
The head of the debtor country's delegation was Mr. Kerfalla YANSANE, Minister of Economy and Finance.
Restructuring of the public external debt. Given its track-record of reforms as well as the burden of its external indebtedness, Guinea-Bissau reached in December 2000 its decision point under the enhanced HIPC Initiative.
Categories of debt treated:
Treatment of arrears as of November 30, 2000
Treatment of maturities falling due from December 01, 2000 up to December 31, 2003
Repayment profile:
Treatment under Cologne terms (cancellation rate of 90%)
repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 90%
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) all ODA loans; (ii) the amounts of other outstanding credits, loans and consolidations, up to 20% of the amounts of outstanding credits as of December 31, 1994 or up to an amount of SDR 20 million, whichever is higher. Participating creditor countries and the Government of the Republic of Guinea-Bissau will inform semi-annually the Secretariat of the Paris Club, who will inform other creditors, of the debt swaps agreements they have implemented. All elements necessary to evaluate the operation, its impact on the Republic of Guinea-Bissau's economy and on the evolution of creditor's exposure will be transmitted to the Secretariat including: its nature and purpose; the parties to the debt swap; the amount, type and value of the debt treated ; the price of sale to investors and the expense of the Republic of Guinea-Bissau.
Given the decision by Paris Club Creditors to contribute to the exceptional assistance in favour of the Republic of Guinea-Bissau under the enhanced Debt Initiative for the Heavily Indebted Poor Countries, the Participating Creditor Countries declare their readiness in principle to hold a meeting at the completion point designed to examine the question of the Republic of Guinea-Bissau's outstanding debt stock and to make the necessary effort, in favour of the Republic of Guinea-Bissau to reach the objective of its debt sustainability in the context of an equitable burden sharing among creditors, provided that:
- the Republic of Guinea-Bissau maintains satisfactory relations with participating Creditor Countries, fully implements all the agreements signed with them and maintains a sound adjustment track record;
- the Boards of the International Monetary Fund and the International Development Association decide that the Republic of Guinea-Bissau has reached its completion point under the enhanced Debt Initiative for the Heavily Indebted Poor Countries.
Pullback clause
The Participating Creditor Countries will review the implementation of the conditions stated in paragraph 3. hereabove. If, in light of the decisions taken by the Board of the International Monetary Fund, the Participating Creditor Countries determine that these conditions were not fulfilled for the implementation of the Agreed Minute dated January 26, 2001 they may declare part or all of the provisions set forth in Article II-2 above in the Agreement null and void.
Phases
First phase : From December 01, 2000 up to December 31, 2001,implemented at the signature of the agreement
Second phase : From January 01, 2002 up to December 31, 2002, not implemented
Third phase : From January 01, 2003 up to December 31, 2003, not implemented
De minimis threshold of 200 000 SDR
Payment of non-consolidated amounts before April 30, 2001
Comparability of treatment provision:
In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Guinea-Bissau commits itself to seek from all its external creditors debt reduction and reorganisation arrangements on terms comparable in net present value to those set forth in the Agreed Minute dated January 26, 2001 for credits of comparable maturity. Comparability of treatment for debt reduction in net present value is assessed not only on the basis of the reduction in the face value of the debt but also on the terms of repayment of the debts not cancelled.
Consequently, the Government of the Republic of Guinea-Bissau commits itself to accord all categories of creditors -and in particular creditor countries not participating in the Agreed Minute, commercial banks and suppliers- a treatment not more favorable than that accorded to the Participating Creditor Countries.
For the purpose of the comparison between the arrangements concluded by the Government of the Republic of Guinea-Bissau with its creditors not listed in the Agreed Minute on the one hand, and arrangements with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the exposure of the creditors not listed in the Agreed Minute, the level of cash payments received by those creditors from the Government of the Republic of Guinea-Bissau as compared to their share in the Guinea-Bissau's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganised claims and in particular their repayment terms whatever forms they take, and in general the financial relations between the Government of the Republic of Guinea-Bissau and the creditors not listed in the Agreed Minute.
Cut-off date:
December 31, 1986
Organisation of the session:
The meeting was chaired by Mr. Bruno BEZARD, Vice President of the Paris Club.
The head of the debtor country's delegation was Mr. Faustino IMBALI, Minister of Finance.
