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Debt treatment -
December 15, 1995

Amounts treated

$881 million

Categories of debt treated

Treatment of the stock as of December 31, 1995


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


Pullback clause

De minimis threshold of 2 000 000 SDR

Payment of non-consolidated amounts before March 31, 1996

Comparability of treatment provision


Cut-off date

December 31, 1985

Organisation of the session

The meeting was chaired by M. Francis Mayer, Co President of the Paris Club.

The head of the debtor country's delegation was M. Fernando Candia, Minister of Finance.

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