SIERRA LEONE Debt treatment - October 16, 2001
Supporting agreements with the international institutions
Programme supported by an Arrangement under the Poverty Reduction and Growth Facility (PRGF) with the IMF approved on September 25, 2001
Total external debt of the country
$1,190 million as of December 31, 2000
$313 million of which being due to Paris Club as of December 31, 2000
Amounts treated
$180 million of which $22 million being cancelled, of which $158 million being rescheduled
Accorded treatment
Restructuring of its public external debt, following the approval of an arrangement under the Poverty Reduction and Growth Facility with the International Monetary Fund on September 25, 2001
Categories of debt treated
Treatment of arrears as of September 30, 2001
Treatment of maturities falling due from October 1, 2001 up to May 30, 2007
Repayment profile
Treatment under Naples terms (cancellation rate of 67%)
- 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
Possibility to conduct debt swaps
Phases
- First phase : From October 1, 2001 up to September 30, 2002, implemented at the signature of the agreement
- Second phase : From October 1, 2002 up to September 30, 2003, implemented on November 13, 2002
- Third phase : From October 1, 2003 up to May 30, 2007, implemented on March 29, 2004
Payment of non-consolidated amounts before March 31, 2002
Comparability of treatment provision
Cut-off date
1 July 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. Peter KUYEMBEH, Minister of Finance.
- AUSTRIA
- BELGIUM
- FRANCE
- GERMANY
- ITALY
- JAPAN
- NETHERLANDS
- NORWAY
- SWITZERLAND
- UNITED KINGDOM
- UNITED STATES OF AMERICA
- DENMARK
- RUSSIAN FEDERATION
- IMF
- UNCTAD
- World Bank