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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): 

CAMEROON - 20010124

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

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Wednesday, 24 January, 2001

Status of the treatment: 

Active

Supporting agreements with the international institutions: 

Program with the IMF supported by an Arrangement under the Enhanced Poverty Reduction Growth Facility (PRGF) approved on December 21, 2000
Download the IMF report : Letter of Intent

Download the IMF report : Decision Point document for the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative

Total external debt of the country: 

$7 800 million as of June 30, 1999

$5 400 million of which being due to Paris Club as of June 30, 1999

Amounts treated: 

$1 300 million of which $900 million being canceled, of which $400 million being rescheduled

Accorded treatment: 

Restructuring of the public external debt. Given its strong track-record of reforms as well as the burden of its external indebtedness, Cameroon reached in October 2000 its decision point under the enhanced HIPC Initiative. This Paris Club agreement also follows the International Monetary Fund's approval of a Poverty Reduction and Growth Facility on December 21, 2000.

Categories of debt treated: 

Treatment of arrears as of December 31, 2000.

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

Rescheduling of ODA credits at a rate at least as favorable as the original contractual rate

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, 1991 or up to an amount of SDR 20 million, whichever is higher. Participating creditor countries and the Government of the Republic of Cameroon 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 Cameroon'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 Cameroon.

 

Good will clause

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

- the Republic of Cameroon 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 Cameroon 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 present Agreed Minute 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 January 01, 2001 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 February 26, 2002
  • Third phase : From January 01, 2003 up to March 31, 2006, implemented on December 26, 2003

De minimis threshold of 500 000 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 Cameroon 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 24, 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 Cameroon 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 Cameroon 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 Cameroon as compared to their share in the Cameroon'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 Cameroon and the creditors not listed in the Agreed Minute.

Cut-off date: 

December 31, 1988

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. Edouard AKAME MFOUMOU, State minister in charge of Economy and Finance.

Files attached: 

PDF icon CM24012001CPEN6870.pdf

Observers (countries): 

Observers (institutions): 

CAMEROON - 19971024

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

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Friday, 24 October, 1997

Status of the treatment: 

Active

Supporting agreements with the international institutions: 

IMF program under the ESAF approved on August 20, 1997

 

Amounts treated: 

$1 270 million

Categories of debt treated: 

Treatment of arrears as of September 30, 1997

Treatment of maturities falling due from October 01, 1997 up to December 31, 2000

Repayment profile: 

Treatment under Naples terms (cancellation rate of 50%)

  • repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 50%
  • 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 October 24, 1997] 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 December 31, 1991 or up to an amount of 20 million SDR, whichever is higher.

 

Entry-into-force provision

The provisions [...] of the Agreed Minute will come into force on March 31, 1998 provided that the Government of the Republic of Cameroon has made all payments due up to that date inclusive pursuant to the present Agreed Minute and especially those pursuant to [the Agreed Minute].

Agreement implemented on March 31, 1998

 

Good will clause

In response to the request of the representatives of the Government of the Republic of Cameroon, the Participating Creditor Countries agreed in principle to a meeting to consider the matter of the Republic of Cameroon's debt service payments falling due after August 31, 2000 and relating to loans or credits pursuant to a contract or other financial arrangement concluded before December 31, 1988 provided :

- that the Republic of Cameroon continues to have an appropriate arrangement with the International Monetary Fund ;

- that the Republic of Cameroon 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 Cameroon has complied with all conditions set out in this Agreed Minute.

 

Special account

To facilitate the implementation of the Agreed Minute, the Government of the Republic of Cameroon will deposit in the special account established with the Banque de France, the equivalent of at least 13 billion CFA francs at the end of each month, commencing in December 1997 through August 2000 inclusive ; out of which for the period from December 1, 1997 up to March 31, 1998 12,5 billion CFA francs at the end of each month as payment of the amounts due pursuant to [...] the Agreed Minute dated November 16, 1995. The Government of the Republic of Cameroon 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 October 1, 1997 up to August 31, 2000 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 Cameroon 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 October 1, 1997 up to August 31, 2000 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 October 01, 1997 up to August 31, 1998, implemented on March 31, 1998
  • Second phase : From September 01, 1998 up to August 31, 1999, implemented on December 23, 1998
  • Third phase : From September 01, 1999 up to December 31, 2000, implemented on October 20, 1999

De minimis threshold of 500 000 SDR

Payment of non-consolidated amounts before March 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 Republic of Cameroon commits itself to negotiate debt reorganization arrangements with all its external creditors providing for the same debt reduction in net present value.

The Government of the Republic of Cameroon 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 legal nature.

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

CAMEROON - 19951116

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

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Thursday, 16 November, 1995

Status of the treatment: 

Active

Amounts treated: 

$1 348 million

Repayment profile: 

Treatment under Naples terms (cancellation rate of 50%)

  • repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 50%
  • repayment of ODA credits over 40 years with 16 years of grace

 

Specific provisions: 

Possibility to conduct debt swaps

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (institutions): 

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