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Debt treatment -
March 06, 2001

Supporting agreements with the international institutions

program with the IMF under the PRGF approved on January 12, 2001

Download the IMF report : Letter of intent

Total external debt of the country

$1 700 million as of December 31, 1999

$482 million of which being due to Paris Club as of December 31, 1999

Amounts treated

Categories of debt treated

Treatment of maturities falling due from January 01, 2001 up to December 31, 2002

Repayment profile

Treatment under Ad Hoc terms

  • repayment of non ODA credits over 20 years, with 3 years of grace
  • repayment of ODA credits over 20 years with 10 years of grace

repayment profile

Rescheduling of ODA credits and bilaterally rescheduled credits at an interest rate at least as favorable as the rate of the existing credits.

Specific provisions

Possibility to conduct debt swaps

Good will clause

Pullback clause



  • First phase : From January 01, 2001 up to December 31, 2001, implemented at the signature of the agreeement
  • Second phase : From January 01, 2002 up to December 31, 2002, implemented on October 02, 2002

De minimis threshold of 250 000 SDR

Payment of non-consolidated amounts before December 31, 2001

Comparability of treatment provision


Cut-off date

November 01, 1999

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 Zurab NOGAIDELI, Minister of Finance.


Files attached

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