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BOSNIA AND HERZEGOVINA - 20000712

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Wednesday, 12 July, 2000

Status of the treatment: 

Active

Amounts treated: 

$9 million

Repayment profile: 

Treatment under Naples terms (cancellation rate of 67%)

  • repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 67%
  • repayment of ODA credits over 40 years with 16 years of grace

Comparability of treatment provision: 

yes

Cut-off date: 

December 02, 1982

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

ARGENTINE 20140529

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Thursday, 29 May, 2014

Status of the treatment: 

Active

Total external debt of the country: 

1/ $ 9 690 million of which being due to Paris Club as of 30 April 2014

2/ $ 1 972 million of which being due to Paris Club as of 30 September 2022

Accorded treatment: 

Amendment to the Joint Declaration 2014 signed on 28 October 2022

Categories of debt treated: 

1/ Treatment of arrears as of April 30, 2014

2/ Treatment of the debt stock covered by the 2014 Joint Declaration

 

Repayment profile: 

Treatment under Ad Hoc terms

Cut-off date: 

10 December 1983

Organisation of the session: 

The meeting dated 29 May 2014 was chaired by Mr. Ramon FERNANDEZ, Chairman of the Paris Club. The head of the debtor country's delegation was Dr. Axel KICILLOF, Minister of Economy and Public Finance.

The meeting dated 28 October 2022 was chaired by Mr. Emmanuel MOULIN, Chairperson of the Paris Club. The delegation of the Argentine Republic was headed by Mr. Leonardo MADCUR, Secretary of State and Chief of Staff, Mr. Marco LAVAGNA, Secretary of State and in charge of the Secretariat of International Economic and Financial Affairs.

 

Files attached: 

PDF icon PR20140529_Argentine85e2.pdf
PDF icon 20221028_pr_argentine-vf.pdf

Observers (countries): 

Observers (institutions): 

COTE D'IVOIRE - 19980424

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Friday, 24 April, 1998

Status of the treatment: 

Active

Supporting agreements with the international institutions: 

IMF program under the ESAF approved on March 17, 1998

 

Amounts treated: 

$1 402 million

Categories of debt treated: 

Treatment of maturities falling due from April 01, 1998 up to March 31, 2001

Repayment profile: 

Treatment under Lyon terms (cancellation rate of 80%)

  • repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 80%
  • 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) the amounts of outstanding loans [treated in the Agreed Minute dated April 24, 1998] as regards official development aid loans ; (ii) the amounts of other outstanding credits, loans and consolidations [treated in the Agreed Minute], up to 20% of the amounts of outstanding credits as of September 30, 1991 or up to an amount of 30 million SDR, whichever is higher.

 

Good will clause

In response to the request of the representatives of the Government of the Republic of Côte d'Ivoire, the Participating Creditor Countries agreed in principle to a meeting to consider the matter of debt service payments falling due after March 31, 2001 and relating to loans or credits pursuant to a contract or other financial arrangement concluded before July 1, 1983 provided:

- that the Republic of Côte d'Ivoire continues to have an appropriate arrangement with the International Monetary Fund;

- that the Republic of Côte d'Ivoire has reached with other creditors effective arrangements meeting the conditions described in [the Agreed Minute] and has reported in writing to the Chairman of the Paris Club, pursuant to [the Agreed Minute];

- and that the Republic of Côte d'Ivoire has complied with all conditions set out in this Agreed Minute.
 

Special account

To facilitate the implementation of the Agreed Minute dated April 24, 1998, the Government of the Republic of Cote d'Ivoire will deposit in the special account established with the Banque de France, the equivalent of at least 2 billion CFA francs at the end of each month, commencing in April 1, 1998 through March 31, 2001 inclusive. The Government of the Republic of Cote d'Ivoire undertakes to have this Bank notify the Chairman of the Paris Club as soon as each deposit has been made. The total amount approximates the amounts estimated to be payable to all Participating Creditor Countries from April 1, 1998 up to March 31, 2001 inclusive under the terms of the bilateral agreements to be concluded pursuant to the Agreed Minute. As specific payments under these agreements become due, the Government of the Republic of Cote d'Ivoire will draw on the special account to meet these payments; no drawing will be made on the special account for any other use before all payments due from April 1, 1998 up to March 31, 2001 inclusive under these agreements have been made. Any drawing on this account will be made after a previous 15-day notice to the above Bank, which this Bank will notify immediately to the Chairman of the Paris Club. This scheme could be continued by agreement between the parties.

 

Phases

  • First phase : From April 01, 1998 up to March 31, 1999, implemented at the signature of the agreement
  • Second phase : From April 01, 1999 up to March 30, 2000, not implemented
  • Third phase : From April 01, 2000 up to March 31, 2001, not implemented

De minimis threshold of 500 000 SDR

Payment of non-consolidated amounts before June 30, 1998

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 Côte d'Ivoire commits itself to seek from all its external creditors debt reorganization arrangements on terms comparable to those set forth in the Agreed Minute dated April 24, 1998 for credits of comparable maturity.

Consequently, the Government of the Republic of Côte d'Ivoire commits itself not to accord any category of creditors -and in particular creditor countries not participating in the Agreed Minute, commercial banks and suppliers - a treatment more favourable than that accorded to the Participating Creditor Countries.

The Government of the Republic of Côte d'Ivoire will seek to secure, from each of its creditor countries not participating in the Agreed Minute, rescheduling or refinancing arrangements on terms comparable to those set forth in the Agreed Minute. The Government of the Republic of Côte d'Ivoire agrees not to accord any such creditor country repayment terms more favourable than those accorded to the Participating Creditor Countries.

The Government of the Republic of Côte d'Ivoire agrees that it will promptly negotiate rescheduling or refinancing arrangements with all other creditors on credits of comparable maturity.

The Government of the Republic of Côte d'Ivoire will inform in writing the Chairman of the Paris Club not later than September 30, 1998 of the progress made for this purpose in negotiations with other creditors.
 

Cut-off date: 

July 01, 1983

Organisation of the session: 

The meeting was chaired by Mr. Francis MAYER, Chairman of the Paris Club.

The head of the debtor country's delegation was Mr. N'goran NIAMIEN, Minister of Economy and Finance.

Observers (countries): 

Observers (institutions): 

CONGO 20081211

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Thursday, 11 December, 2008

Status of the treatment: 

Active

Supporting agreements with the international institutions: 

IMF programme supported by an Arrangement under the Poverty Reduction and Growth Facility (PRGF) approved on December 08, 2008

 

Total external debt of the country: 

$3 354 million of which being due to Paris Club as of July 01, 2008

Amounts treated: 

$961 million of which $806 million being canceled, of which $155 million being rescheduled

Accorded treatment: 

Congo's debt relief, following the approval by the International Monetary Fund (IMF) of a new three year arrangement under the Poverty Reduction and Growth Facility on 8 December 2008

Categories of debt treated: 

Treatment of arrears as of June 30, 2008

Treatment of maturities falling due from July 01, 2008 up to June 30, 2011

Repayment profile: 

Treatment under Cologne terms

  • 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

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:

- the amounts of outstanding loans and consolidations as regards ODA debts;

- the amounts of other outstanding credits, loans and consolidations, up to 20% of the amounts of outstanding loans, credits and consolidations as of August 31, 1990 or up to an amount of 20 million SDR, whichever is higher.

 

Good will clause

Given the decision by Paris Club Creditors to contribute to the exceptional assistance in favour of the Government of the Republic of Congo under the Enhanced HIPC Initiative, 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 Congo's outstanding debt stock and to make the necessary effort in favour of the Republic of Congo to allow it to reach the objective of its debt sustainability in the context of an equitable burden sharing among creditors, provided that:

- the Government of the Republic of Congo maintains satisfactory relations with the Participating Creditor Countries and a sound adjustment track record;

- the Executive Boards of the IMF and the IDA decide that the Republic of Congo has reached its Completion Point under the enhanced HIPC initiative.

 

Phases

  • First phase : From July 01, 2008 up to June 30, 2009, implemented at the signature of the agreement
  • Second phase : From July 01, 2009 up to June 30, 2010, implemented on December 24, 2009
  • Third phase : From July 01, 2010 up to June 30, 2011, not implemented

Comparability of treatment provision: 

The Republic of Congo was declared eligible for the Enhanced HIPC initiative by the IDA and the IMF in 2005 and was declared to have reached its Decision Point in March 2006. In this context, the Republic of Congo commits to seek promptly from all its external creditors that are not participating in the Agreed Minutes dated 11 December 2008, 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 Congo's external debt, the nature and characteristics of all treatment applied, including debt buybacks, 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 Congo and creditor countries not listed in the Agreed Minutes dated 11 December 2008.

Consequently, the Republic of Congo commits not to accord any category of creditors -and in particular creditor countries not participating in the Agreed Minutes dated 11 December 2008, 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. Benoît COEURE, Co Chairman of the Paris Club

The head of the debtor country's delegation was Mr. Pacifique ISSOIBEKA, Minister of Economy, Finance and Budget

Files attached: 

PDF icon prcongo20081211.pdf

Observers (countries): 

Observers (institutions): 

MAURITANIA - 19890619

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Monday, 19 June, 1989

Status of the treatment: 

Fully repaid

Amounts treated: 

$51 million

Repayment profile: 

Treatment under Toronto terms (cancellation rate of 33%)

  • repayment of non ODA credits over 14 years, with 8 years of grace, after cancellation to a rate of 33%
  • repayment of ODA credits over 25 years with 14 years of grace

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

UKRAINE - 20010713

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Friday, 13 July, 2001

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

Program with the IMF under the EFF approved on December 19, 2000

Download the IMF report : Letter of intent

Total external debt of the country: 

$12 437 million as of December 31, 1999

$1 100 million of which being due to Paris Club as of January 01, 2000

Amounts treated: 

$578 million

Categories of debt treated: 

Treatment of arrears as of December 19, 2000

Treatment of maturities falling due from December 19, 2000 up to September 03, 2002

Repayment profile: 

Treatment under Classic terms

  • repayment of non ODA credits over 12 years, with 3 years of grace

Specific provisions: 

Entry-into-force provision

The Participating Creditor Countries will examine the entry into force of the provisions of Article II of the present Agreed Minute in light of the following conditions :

- satisfactory payments to Participating Creditor Countries on amounts due until October 31, 2001 pursuant to Article III paragraph 6. of the present Agreed Minute ;

- the approval of the fifth review of the program supported by the Extended Fund Facility with the Government of Ukraine approved by the Executive Board of the International Monetary Fund on September 4, 1998 and extended on December 19, 2000. For this purpose, the IMF will inform the Chairman of the Paris Club regarding the status of the relations of Ukraine with the IMF.

Following the result of this examination, they will examine at the latest by December 31, 2001 if the provisions of Article II of the present Agreed Minute enter into force. The outcome of this examination will be notified to the Government of Ukraine by the Chairman of the Paris Club.

Agreement implemented on November 01, 2001

De minimis threshold of 1 500 000 SDR

Payment of non-consolidated amounts before October 31, 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 Ukraine 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 discrimination among different categories of creditors.

Consequently, the Government of Ukraine 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.

For the purpose of the comparison between the arrangements concluded by the Government of Ukraine with its creditors 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 creditors not listed in the present Agreed Minute, the level of cash payments received by those creditors from the Government of Ukraine as compared to their share in Ukraine'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 Ukraine and the creditors not listed in the present Agreed Minute.

Cut-off date: 

December 31, 1998

Organisation of the session: 

The meeting was chaired by Mrs Stéphane PALLEZ, Co chairman of the Paris Club.

The head of the debtor country's delegation was Mr. Ihor Mityukov, Minister of Finance.

Files attached: 

PDF icon Ua13072001cpen6870.pdf

Observers (countries): 

Observers (institutions): 

DOMINICAN REPUBLIC - 20051021

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Friday, 21 October, 2005

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

Program with the IMF : Stand-by Arrangement approved on January 31, 2005

 

Total external debt of the country: 

$6 414 million as of December 31, 2004, representing 54,1% of GDP (IMF report dated 30/09/2005)

$2 047 million of which being due to Paris Club as of January 01, 2005

Amounts treated: 

$137 million

Categories of debt treated: 

Treatment of maturities falling due from January 01, 2005 up to December 31, 2005

Repayment profile: 

Treatment under Classic terms

  • repayment of non ODA credits over 12 years, with 5 years of grace
  • repayment of ODA credits over 12 years with 5 years of grace

The rates and the conditions of interest of the Official Development Assistance (ODA) loans, should be at least as favourable as the original concessional rates applying to consolidated loans and in any case, not higher than the Appropriate Market Rate.

repayment profile

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 as regards Official Development Assistance loans; (ii) the amounts of other outstanding credits, up to 10% of the amounts of outstanding credits as of 30 September 1991 or up to an amount of 10 million dollars of the United States of America, whichever is higher.

 

Good will clause

The Participating Creditor Countries will review the external financing needs of the Dominican Republic in December 2005 in connection with satisfying the conditions for the 3rd review under the IMF Stand-by Arrangement with a view to providing additional relief in 2006, if needed, to support the programme.

Payment of non-consolidated amounts before April 30, 2006

Comparability of treatment provision: 

In order to secure comparable treatment of its debt due to its other external public or private creditors, the Government of the Dominican Republic commits to seek promptly from its external creditors debt reorganization arrangements on terms comparable to those set forth in these Agreed Minutes, while trying to avoid discrimination among different categories of creditors. The Government of the Dominican Republic commits to accord all categories of creditors -and in particular creditor countries not participating in these Agreed Minutes, and private sector- a treatment not more favourable than that accorded to the Participating Creditor Countries for credits of comparable maturity.

For the purpose of the comparison between the arrangements concluded by the Government of the Dominican Republic with its creditors not listed in these Agreed Minutes and with the Participating Creditor Countries, all relevant elements shall be taken into account, including the real exposure of the creditor not listed in these Agreed Minutes, the level of cash payments received by those creditors from the Government of the Dominican Republic as compared to their share in the Dominican Republic's external debt, the nature and characteristics of all treatments 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 Dominican Republic and the creditors not listed in these Agreed Minutes.

Paris Club creditors assess that, on the basis of the information provided by the authorities of the Dominican Republic, the restructuring agreements reached with private sector creditors, in particular the bond restructuring in July 2005 and the rescheduling agreement signed with the commercial banks on 17 October 2005, if implemented, meet the comparability of treatment requirement of these Agreed Minutes.

Cut-off date: 

June 30, 1984

Organisation of the session: 

The meeting was chaired by M. Ramon Fernandez, Vice President of the Paris Club.

The head of the debtor country's delegation was MM. Juan Temistocles Montas & Vicente Bengoa, Technical Secretary of the Presidency & Finance Secretary.

Files attached: 

PDF icon PRrepdom2110056870.pdf

Observers (countries): 

Observers (institutions): 

MACEDONIA, THE FORMER YUGOSLAV REPUBLIC - 19950717

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Monday, 17 July, 1995

Status of the treatment: 

Fully repaid

Amounts treated: 

$288 million

Repayment profile: 

Treatment under Classic terms

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

JORDAN - 19970523

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Friday, 23 May, 1997

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

IMF program under the EFF approved on February 09, 1996

 

Amounts treated: 

$400 million

Categories of debt treated: 

Treatment of arrears as of May 31, 1997

Treatment of maturities falling due from June 01, 1997 up to February 28, 1999

Repayment profile: 

Treatment under Houston 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 [treated in the present Agreed Minute] as regards official development aid loans ; (ii) the amounts of other outstanding credits, loans and consolidations [treated in the present Agreed Minute], up to 20% of the amounts of outstanding credits as of December 31, 1991 or up to an amount of 30 million SDR, whichever is higher.

 

Entry-into-force provision

Agreement implemented on April 30, 2000

 

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.

De minimis threshold of 500 000 SDR

Payment of non-consolidated amounts before January 31, 1998

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 Hashemite Kingdom of Jordan commits itself to negotiate debt reorganization arrangements with all its external creditors.

The Government of the Hashemite Kingdom of Jordan commits itself not to accord any category of creditors -and in particular creditor countries not participating in the present Agreed Minute, commercial banks and suppliers- a treatment more favourable than that accorded by the Participating Creditor Countries for credits of comparable maturity and nature.

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

ECUADOR - 19940627

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Monday, 27 June, 1994

Status of the treatment: 

Fully repaid

Amounts treated: 

$292 million

Repayment profile: 

Treatment under Houston terms

 

Specific provisions: 

Possibility to conduct debt swaps

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

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