Debtor country:
Creditor country:
Terms:
Treatment date:
Status of the treatment:
Supporting agreements with the international institutions:
IMF program approved on April 15, 1999
Amounts treated:
Categories of debt treated:
Treatment of maturities falling due from April 01, 1999 up to April 30, 2002
Repayment profile:
Treatment under Houston terms
Specific provisions:
Possibility to conduct debt swaps
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.
Phases
- First phase : From April 01, 1999 up to April 30, 2000, implemented on April 30, 2000
- Second phase : From May 01, 2000 up to April 30, 2001, implemented on July 28, 2000
- Third phase : From May 01, 2001 up to April 30, 2002, implemented on October 04, 2001
De minimis threshold of 500 000 SDR
Payment of non-consolidated amounts before July 31, 1999
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 seek promptly from all its external creditors debt reorganization arrangements on terms comparable to those set forth in the present Agreed Minute.
Consequently, the Government of the Hashemite Kingdom of Jordan 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 credits of comparable maturity and legal basis.
For the purpose of the comparison between the arrangements concluded by the Government of the Hashemite Kingdom of Jordan 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 Hashemite Kingdom of Jordan as compared to their share in of the Hashemite Kingdom of Jordan'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 Hashemite Kingdom of Jordan and the creditor countries not listed in the present Agreed Minute.
Cut-off date:
January 01, 1989
Organisation of the session:
Have attended:
Observers (countries):
Observers (institutions):