CONGO Debt treatment - July 16, 1996
Amounts treated
$1,758 million
Categories of debt treated
Treatment of maturities falling due from July 1, 1996 up to June 30, 1999
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
Specific provisions
Possibility to conduct debt swaps
Entry-into-force provision
Agreement implemented on December 31, 1996
Comparability of treatment provision
yes
Organisation of the session
The meeting was chaired by Mr. Bertrand de MAZIERES, Vice-Chairman of the Paris Club.
The head of the debtor country's delegation was Mr. Nguila MOUGOUNGA-NKOMBO, Minister of Economy and Finance.
Participating creditors
- BELGIUM
- BRAZIL
- CANADA
- FRANCE
- GERMANY
- ITALY
- SPAIN
- SWITZERLAND
- UNITED KINGDOM
- UNITED STATES OF AMERICA
Observers
- DENMARK
- JAPAN
- African Development Bank
- IMF
- UNCTAD
- World Bank