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Debt treatment -
April 16, 2004

Supporting agreements with the international institutions

Program supported by the Stand-by Arrangement with the IMF approved on August 29, 2003


Total external debt of the country

$1 561 million of which being due to Paris Club as of January 01, 2004

Amounts treated

$193 million

Categories of debt treated

Treatment of arrears as of December 31, 2003

Treatment of maturities falling due from January 01, 2004 up to December 31, 2004

Repayment profile

Treatment under Classic terms

  • repayment of non ODA credits over 12 years, with 5 years of grace
  • repayment of ODA credits over 12 years with 5 years of grace

Specific provisions

Possibility to conduct debt swaps

On a voluntary and bilateral basis, the Government of each 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 mentioned in paragraph 1 as regards Official Development Assistance loans; (ii) the amounts of other outstanding credits mentioned in paragraph 1 above, up to 10% of the amounts of outstanding credits as of September 30, 1991 or up to an amount of 10 million dollars of the United States of America, whichever is higher.

Payment of non-consolidated amounts before December 31, 2004

Comparability of treatment provision

In order to secure comparable treatment of its debt due to its other external public or private creditors, the Government of the Dominican Republic commits to seek promptly from its external creditors debt reorganization arrangements on terms comparable to those set forth in the present Agreed Minute, while trying to avoid discrimination among different categories of creditors. The Government of the Dominican Republic commits to accord all categories of creditors -and in particular creditor countries not participating in the present Agreed Minute, and private sector- a treatment not more favourable than that accorded to the Participating Creditor Countries for credits of comparable maturity.

Cut-off date

June 30, 1984

Organisation of the session

The meeting was chaired by Mrs Stéphane Pallez, Co Chairperson of the Paris Club.

The head of the debtor country's delegation was Mr. Carlos Despradel, Technical Secretary of the Presidency


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