TOGO  Debt treatment -     February 23, 1995

Amounts treated

$237 million

Categories of debt treated

Treatment of arrears as of December 31, 1994

Treatment of maturities falling due from January 1, 1995 up to September 30, 1997

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, 1995

Phases

  • First phase : From January 1, 1995 up to December 31, 1995, implemented on December 31, 1995
  • Second phase : From January 1, 1996 up to December 30, 1996, implemented on October 17, 1996
  • Third phase : From January 1, 1997 up to September 30, 1997, implemented on September 29, 1997

Comparability of treatment provision

yes

Cut-off-date

January 1, 1983

Organisation of the session

Have attended:

Participating creditors
  • AUSTRIA
  • BELGIUM
  • FRANCE
  • GERMANY
  • ITALY
  • NETHERLANDS
  • SPAIN
  • SWEDEN
  • SWITZERLAND
  • UNITED KINGDOM
Observers
  • JAPAN
  • UNITED STATES OF AMERICA
  • IMF
  • OECD
  • UNCTAD
  • World Bank