DEMOCRATIC REPUBLIC OF CONGO Debt treatment - September 13, 2002
Supporting agreements with the international institutions
Programme supported by an Arrangement under the Poverty Reduction and Growth Facility (PRGF) with the IMF approved on June 12, 2002
Total external debt of the country
$14,300 million as of December 31, 2001
$9,703 million of which being due to Paris Club as of June 30, 2002
Amounts treated
$8,980 million of which $4,640 million being cancelled, of which $4,340 million being rescheduled
Accorded treatment
Restructuring of the public external debt, following the approval of an arrangement under the Poverty Reduction and Growth Facility with the International Monetary Fund on June 12, 2002
Categories of debt treated
Treatment of arrears as of June 30, 2002
Treatment of maturities falling due from July 1, 2002 up to March 31, 2006
Repayment profile
Treatment under Naples 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
Free transferability provision
Phases
- First phase : From July 1, 2002 up to June 29, 2003, implemented at the signature of the agreement
- Second phase : From June 30, 2003 up to June 28, 2004, implemented on November 17, 2003
- Third phase : From July 1, 2004 up to March 31, 2006, implemented on July 26, 2004
Payment of non-consolidated amounts before March 31, 2003
Comparability of treatment provision
yes
Cut-off date
June 30, 1983
Organisation of the session
The meeting was chaired by Mr. Ambroise FAYOLLE, Vice-Chairman of the Paris Club.
The head of the debtor country's delegation was Mr. Mbuyamu MATUNGULU, Minister of Economy, Finance and Budget.
- AUSTRIA
- BELGIUM
- BRAZIL
- CANADA
- FRANCE
- GERMANY
- ITALY
- JAPAN
- NETHERLANDS
- NORWAY
- SPAIN
- SWEDEN
- SWITZERLAND
- UNITED KINGDOM
- UNITED STATES OF AMERICA
- DENMARK
- RUSSIAN FEDERATION
- African Development Bank
- European Commission
- IMF
- OECD
- UNCTAD
- World Bank