$5,490 million as of December 31, 1999

$1,900 million of which being due to Paris Club as of December 31, 2000

In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Yemen commits itself to seek promptly from all its external creditors debt reduction and reorganization arrangements on terms comparable in net present value to those set forth in the Agreed Minutes for credits of comparable maturity. Comparability of treatment for debt reduction in net present value is assessed not only on the basis of the reduction in the face value of the debt but also on the terms of repayment of the debts not cancelled.

Consequently, the Government of the Republic of Yemen commits itself to accord all categories of creditors -and in particular creditors not participating in the Agreed Minutes, commercial banks and suppliers- a treatment not more favourable than that accorded by the Participating Creditor Countries.

For the purpose of the comparison between the arrangements concluded by the Government of the Republic of Yemen with its creditors not listed in the Agreed Minutes on the one hand, and with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the exposure of the creditor countries not listed in the Agreed Minutes, the level of cash payments received by those creditor countries from the Government of the Republic of Yemen as compared to their share in the Yemen's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take, and in general the financial relations between the Government of the Republic of Yemen and the creditors not listed in the Agreed Minutes.