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SIERRA LEONE - 20011016

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Tuesday, 16 October, 2001

Status of the treatment: 

Fully repaid

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
Download the IMF report : letter of intent

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 canceled, 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 01, 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 01, 2001 up to September 30, 2002, implemented at the signature of the agreement
  • Second phase : From October 01, 2002 up to September 30, 2003, implemented on November 13, 2002
  • Third phase : From October 01, 2003 up to May 30, 2007, implemented on March 29, 2004

Payment of non-consolidated amounts before March 31, 2002

Comparability of treatment provision: 

yes

Cut-off date: 

July 01, 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.

Files attached: 

PDF icon PRsl6870.pdf

Observers (countries): 

Observers (institutions): 

SIERRA LEONE - 19960328

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Thursday, 28 March, 1996

Status of the treatment: 

Fully repaid

Amounts treated: 

$39 million

Categories of debt treated: 

Treatment of arrears as of December 31, 1995

Treatment of maturities falling due from January 01, 1996 up to December 31, 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, 1996

 

Phases

  • First phase : From January 01, 1996 up to December 31, 1996, implemented on December 31, 1996
  • Second phase : From January 01, 1997 up to December 31, 1997, not implemented

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

SENEGAL - 19980617

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Wednesday, 17 June, 1998

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

Program with the IMF approved on April 20, 1998

Download the IMF report : IMF report

Amounts treated: 

$427 million

Categories of debt treated: 

Treatment of arrears as of June 17, 1998

Treatment of the stock as of June 17, 1998

Treatment of maturities falling due from June 01, 1998 up to December 31, 2000

Repayment profile: 

Treatment under Naples terms (cancellation rate of 67%)

 

Specific provisions: 

Pullback clause

The Participating Creditor Countries reserve the right to review the implementation of the conditions stated [...] for the comparability of treatment between all external creditors ; if the Participating Creditor Countries determine that these conditions are not substantially fulfilled, or that the Government of Senegal has not met its payments obligations as specified in the present Agreed Minute, the provisions [...] of the present Agreed Minute will become null and void ; b) the Government of Senegal agrees that the International Monetary Fund inform the Chairman of the Paris Club regarding the status of the Senegal's relations with the International Monetary Fund.

De minimis threshold of 1 000 000 SDR

Comparability of treatment provision: 

In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of Senegal 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 present Agreed Minute 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 Senegal commits itself to accord all categories of creditors -and in particular creditor countries not participating in the present Agreed Minute, 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 Senegal with its creditor countries not listed in the present Agreed Minute 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 present Agreed Minute, the level of cash payments received by those creditor countries from the Government of Senegal as compared to their share in the Senegal'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 Senegal and the creditor countries not listed in the present Agreed Minute.

The Government of Senegal will inform regularly in writing the Chairman of the Paris Club of the progress made for this purpose in the negotiations with all its external creditors. A first report should be provided to the Chairman of the Paris Club by December 17, 1998.

The Government of Senegal will inform in writing without delay the Chairman of the Paris Club of the content of any agreement reached with its other external creditors.

The Government of Senegal will inform in writing the Chairman of the Paris Club, on a yearly basis, of the cash payments made by Senegal to its external creditors, and especially to the creditor countries not participating in the present Agreed Minute.

Cut-off date: 

January 01, 1983

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

SENEGAL - 19950420

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Thursday, 20 April, 1995

Status of the treatment: 

Fully repaid

Amounts treated: 

$168 million

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

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

SAO TOME AND PRINCIPE - 20000516

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Tuesday, 16 May, 2000

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

IMF program approved on April 28, 2000

Download the IMF report : letter of intent

Amounts treated: 

$27 million

Categories of debt treated: 

Treatment of arrears as of March 31, 2000

Treatment of maturities falling due from April 01, 2000 up to April 30, 2003

Repayment profile: 

Treatment under Naples terms (cancellation rate of 67%)

Specific provisions: 

Good will clause

In response to the request of the representatives of the Government of the Democratic Republic of Sao Tome and Principe, the Participating Creditor Countries agreed in principle to a meeting to consider the matter of the Democratic Republic of Sao Tome and Principe's debt service payments falling due after April 30, 2003 and relating to loans or credits pursuant to a contract or other financial arrangement concluded before April 1st, 1999, provided:

- that the Democratic Republic of Sao Tome and Principe continues to have an appropriate arrangement with the International Monetary Fund;

- that the Democratic Republic of Sao Tome and Principe has reached with other creditors effective arrangements meeting the conditions described in [the Agreed Minute dated May 16, 2005] and has reported in writing to the Chairman of the Paris Club, pursuant to [the Agreed Minute ] ;

- and that the Democratic Republic of Sao Tome and Principe has complied with all conditions set out in this Agreed Minute.

 

Phases

  • First phase : From April 01, 2000 up to April 30, 2001, implemented at the signature of the agreement
  • Second phase : From May 01, 2001 up to April 30, 2002, not implemented
  • Third phase : From May 01, 2002 up to April 30, 2003, not implemented

De minimis threshold of 150 000 SDR

Payment of non-consolidated amounts before October 31, 2000

Comparability of treatment provision: 

In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Democratic Republic of Sao Tome and Principe 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 Minute dated May 16, 2000 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 Democratic Republic of Sao Tome and Principe commits itself to accord all categories of creditors -and in particular creditor countries not participating in the Agreed Minute, commercial banks and suppliers- a treatment not more favourable than that accorded to the Participating Creditor Countries.

For the purpose of the comparison between the arrangements concluded by the Government of the Democratic Republic of Sao Tome and Principe with its creditor not listed in the present Agreed Minute on the one hand, and with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the real exposure of the creditors not listed in the Agreed Minute, the level of cash payments received by those creditors from the Government of the Democratic Republic of Sao Tome and Principe as compared to their share in the Democratic Republic of Sao Tome and Principe'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 Democratic Republic of Sao Tome and Principe and the creditors not listed in the Agreed Minute.

The Government of the Democratic Republic of Sao Tome and Principe will inform in writing the Chairman of the Paris Club no later than December 31, 2000 of the progress made for this purpose in negotiations with other creditors [of the Agreed Minute], and will communicate to the Chairman of the Paris Club the content of its bilateral agreements with these creditors.

Cut-off date: 

April 01, 1999

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

RWANDA - 19980721

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Tuesday, 21 July, 1998

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

IMF program under the ESAF approved on June 24, 1998

Download the IMF report : IMF report

Amounts treated: 

$54 million

Categories of debt treated: 

Treatment of arrears as of June 30, 1998

Treatment of maturities falling due from July 01, 1998 up to November 30, 2000

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

On a voluntary and bilateral basis, the Government of each participating creditor country or its appropriate institutions may sell or exchange, in the framework of debt for nature, debt for aid, debt for equity swaps or other local currency debt swaps : (i) the amounts of outstanding loans [treated in the Agreed Minute] as regards official development aid loans ; (ii) the amounts of other outstanding credits, loans and consolidations [treated in the Agreed Minute], up to 20% of the amounts of outstanding credits as of June 30, 1998 or up to an amount of 15 million SDR, whichever is higher.

 

Entry-into-force provision

Agreement implemented on June 30, 1999

 

Good will clause

In response to the request of the representatives of the Government of the Republic of Rwanda, the Participating Creditor Countries agreed in principle to a meeting to consider the matter of the Republic of Rwanda's debt service payments falling due after May 31, 2001 and relating to loans or credits pursuant to a contract or other financial arrangement concluded before December 31, 1994 provided :

- that the Republic of Rwanda continues to have an appropriate arrangement with the International Monetary Fund ;

- that the Republic of Rwanda has reached with other creditors effective arrangements meeting the conditions described in [the Agreed Minute] and has reported in writing to the Chairman of the Paris Club, pursuant to [the Agreed Minute] ;

- and that the Republic of Rwanda has complied with all conditions set out in this Agreed Minute.

 

Phases

  • First phase : From July 01, 1998 up to July 31, 1999, implemented on June 30, 1999
  • Second phase : From August 01, 1999 up to July 31, 2000, implemented on December 21, 1999
  • Third phase : From August 01, 2000 up to November 30, 2000, implemented on May 30, 2001

De minimis threshold of 500 000 SDR

Payment of non-consolidated amounts before December 31, 1998

Comparability of treatment provision: 

In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Rwanda commits itself to promptly negotiate debt reduction arrangements with all its external creditors.

Consequently, the Government of the Republic of Rwanda commits itself not to accord any category of creditors -and in particular creditor countries not participating in the Agreed Minute, commercial banks and suppliers - a treatment more favourable than that accorded by the Participating Creditor Countries for credits of comparable maturity and legal nature.

The Government of the Republic of Rwanda will inform in writing the Chairman of the Paris Club not later than December 31, 1998 of the status of its negotiations and of the contents of its bilateral agreements with other creditors. Afterwards, the Government of the Republic of Rwanda will further inform in writing regularly the Chairman of the Paris Club of the status of its negotiations with other creditors, as well as of the payments made to them, and in any case before the meeting mentioned in [the Agreed Minute].

Cut-off date: 

December 31, 1994

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

NIGER - 19961219

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Thursday, 19 December, 1996

Status of the treatment: 

Fully repaid

Amounts treated: 

$128 million

Categories of debt treated: 

Treatment of arrears as of December 01, 1996

Treatment of maturities falling due from December 01, 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

 

Phases

  • First phase : From December 01, 1996 up to September 30, 1997, implemented at the signature of the agreement
  • Second phase : From October 01, 1997 up to September 30, 1998, implemented on September 29, 1997
  • Third phase : From October 01, 1998 up to June 30, 1999, implemented on June 08, 1999

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

NICARAGUA - 19980422

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Wednesday, 22 April, 1998

Status of the treatment: 

Fully repaid

Supporting agreements with the international institutions: 

IMF program approved on March 18, 1998

Download the IMF report : IMF report

Amounts treated: 

$213 million

Categories of debt treated: 

Treatment of arrears as of February 28, 1998

Treatment of maturities falling due from March 01, 1998 up to February 28, 2001

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

On a voluntary and bilateral basis, the Government of each participating creditor country or its appropriate institutions may sell or exchange, in the framework of debt for nature, debt for aid, debt for equity swaps or other local currency debt swaps : (i) the amounts of outstanding loans [treated in the present Agreed Minute] as regards Official Development Aid loans ; (ii) the amounts of other outstanding credits, loans and consolidations [treated in the present Agreed Minute], up to 20% of the amounts of outstanding credits as of December 31, 1991 or up to an amount of 15 million SDR, whichever is higher

 

Entry-into-force provision

Agreement implemented on August 18, 1998

 

Good will clause

In response to the request of the representatives of the Government of the Republic of Nicaragua :

a) the Participating Creditor Countries agreed in principle to hold a meeting to consider the matter of the Republic of Nicaragua's debt service payments falling due after February 28, 2001 and relating to loans or credits pursuant to a contract or other financial arrangement concluded before November 1, 1988 provided :

- that the Republic of Nicaragua continues to have an appropriate arrangement with the International Monetary Fund ;

- that the Republic of Nicaragua has reached with other creditors effective arrangements meeting the conditions described in [the present Agreed Minute]and has reported in writing to the Chairman of the Paris Club, pursuant to [the present Agreed Minute] ;

- and that the Republic of Nicaragua has complied with all conditions set out in this Agreed Minute.

b) Alternatively, if during the three years following the date of the signature of the present Agreed Minute, the Government of the Republic of Nicaragua has maintained satisfactory relations with the Participating or Observer Creditor Countries, and notably has fully implemented all agreements signed with them and continues to have an appropriate arrangement with the International Monetary Fund, the Participating Creditor Countries agree in principle to hold a meeting to consider the matter of the Republic of Nicaragua's stock of debt.
 

Free transferability provision

The Government of the Republic of Nicaragua guarantees the immediate and unrestricted transfer of the foreign exchange counterpart of all amounts paid in local currency by the private debtors in Nicaragua for servicing their foreign debt owed to or guaranteed by the Participating or Observer Creditor Countries or their appropriate institutions, for which the corresponding payments in local currency have been deposited in the Central Bank of Nicaragua on or after December 31, 1991.

 

Pullback clause

The Participating Creditor Countries reserve the right to review and agree to the implementation of the conditions stated [...] for the comparability of treatment between all creditor countries. If the Participating Creditor Countries determine that these conditions are not substantially fulfilled, and do not agree to their implementation, the provisions [...] of the present Agreed Minute will become null and void. In this case, the total amount of debts covered by the present Agreed Minute will be due and payable at that time, with the exception of maturities which have not yet fallen due on these debts. Any payments of principal and interest already made under Article II paragraph 2. will be taken into account.

 

Phases

  • First phase : From March 01, 1998 up to February 28, 1999, implemented on August 18, 1998
  • Second phase : From March 01, 1999 up to February 28, 2000, implemented on September 21, 1999
  • Third phase : From March 01, 2000 up to February 28, 2001, implemented on February 21, 2001

De minimis threshold of 750 000 SDR

Payment of non-consolidated amounts before July 31, 1998

Comparability of treatment provision: 

In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Nicaragua commits itself to negotiate debt reorganization arrangements with all its external creditors providing for comparable debt reduction in net present value as well as comparable terms of repayment of the debts not cancelled.

The Government of the Republic of Nicaragua commits itself not to accord any category of creditors -and in particular creditor countries not participating in the present Agreed Minute, commercial banks and suppliers- a treatment more favourable than that accorded by the Participating Creditor Countries for credits of comparable maturity and legal nature.

The Government of the Republic of Nicaragua will inform in writing the Chairman of the Paris Club not later than September 30, 1998 of the status of its negotiations and of the contents of its bilateral agreements with other creditors. The Government of the Republic of Nicaragua will further regularly inform in writing the Chairman of the Paris Club of the status of its negotiations with other creditors, as well as of the payments made to them, and in any case before the meeting mentioned in [the present Agreed Minute].

Cut-off date: 

November 01, 1988

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

NICARAGUA - 19950322

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Wednesday, 22 March, 1995

Status of the treatment: 

Fully repaid

Amounts treated: 

$848 million

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

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

MAURITANIA - 19950628

Submitted by adminCDP on Tue, 29/09/2015 - 11:23
English

Debtor country: 

Creditor country: 

Terms: 

Treatment date: 

Wednesday, 28 June, 1995

Status of the treatment: 

Active

Amounts treated: 

$65 million

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

Comparability of treatment provision: 

yes

Organisation of the session: 

Have attended:

Observers (countries): 

Observers (institutions): 

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