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.
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.
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.
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
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 paragraph 1 as regards Official Development Assistance loans; (ii) the amounts of other outstanding credits mentioned in paragraph 1 above, up to 10% of the amounts of outstanding credits as of September 30, 1991 or up to an amount of 10 million dollars of the United States of America, whichever is higher.
Payment of non-consolidated amounts before December 31, 2004
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 the present Agreed Minute, 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 the present Agreed Minute, and private sector- a treatment not more favourable than that accorded to the Participating Creditor Countries for credits of comparable maturity.
Cut-off date:
June 30, 1984
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. Carlos Despradel, Technical Secretary of the Presidency
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.
