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Debt treatment -
July 10, 2002

Supporting agreements with the international institutions

Total external debt of the country

$7 293 million as of December 31, 2001

$4 171 million of which being due to Paris Club as of June 30, 2002

Amounts treated

Accorded treatment

Exit treatment to graduate from rescheduling

Categories of debt treated

Treatment of arrears as of June 30, 2002

Treatment of maturities falling due from July 01, 2002 up to December 31, 2007

Repayment profile

Treatment under Houston terms

  • repayment of non ODA credits over 18 years, with 3 years of grace
  • repayment of ODA credits over 20 years with 10 years of grace

Specific provisions

Possibility to conduct debt swaps

Moreover, on a voluntary and bilateral basis, Participating Creditors Countries may sell or exchange, in the framework of debt for nature, debt for aid, debt for equity swaps or other local currency debt swaps, all the pre cut off ODA loans as well as the pre cut off date commercial credits (up to 30% of the amounts of outstanding credits as of December 31, 1991 or up to an amount of 40 million SDR, whichever is higher).


Free transferability provision

The Government of the Hashemite Kingdom of Jordan undertakes to continue to permit the unrestricted transfer of foreign exchange due by the private debtors in the Hashemite Kingdom of Jordan for servicing their foreign debt owed to or guaranteed by the Participating Creditor Countries or their appropriate institutions and not subject to the present reorganization.



  • First phase : From July 01, 2002 up to June 30, 2003, implemented at the signature of the agreement
  • Second phase : From July 01, 2003 up to June 29, 2004, implemented on July 16, 2003
  • Third phase : From July 01, 2004 up to December 31, 2007, implemented on June 24, 2004

De minimis threshold of 500 000 SDR

Comparability of treatment provision

The Government of the Hashemite Kingdom of Jordan commits 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 to the Participating Creditor Countries for credits of comparable maturity and legal basis.

Cut-off date

January 01, 1989

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. Michel Marto, Minister of Finance.


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