BENIN  Debt treatment -      June 21, 1993

Amounts treated

$24 million

Categories of debt treated

Treatment of maturities falling due from August 1, 1993 up to December 31, 1995

Repayment profile

Treatment under London 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 30 years with 12 years of grace

Specific provisions

Possibility to conduct debt swaps

Phases

  • First phase : From August 1, 1993 up to December 31, 1993, implemented at the signature of the agreement
  • Second phase : From January 1, 1994 up to December 31, 1994, implemented on April 27, 1994
  • Third phase : From January 1, 1995 up to December 31, 1995, implemented on July 19, 1995

De minimis threshold of 250,000 SDR

Comparability of treatment provision

yes

Cut-off date

March 31, 1989

Organisation of the session

The meeting was chaired by Mrs. Ariane Obolensky, Co-Chairperson of the Paris Club.

The head of the debtor country's delegation was Mr. Paul Dossou, Minister of Finance.

Participating creditors
  • BELGIUM
  • FRANCE
  • GERMANY
  • ITALY
  • NETHERLANDS
Observers
  • CANADA
  • JAPAN
  • NORWAY
  • UNITED KINGDOM
  • UNITED STATES OF AMERICA
  • African Development Bank
  • IMF
  • OECD
  • UNCTAD
  • World Bank