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Debt treatment -
May 23, 1997

Supporting agreements with the international institutions

IMF program under the EFF approved on February 09, 1996


Amounts treated

$400 million

Categories of debt treated

Treatment of arrears as of May 31, 1997

Treatment of maturities falling due from June 01, 1997 up to February 28, 1999

Repayment profile

Treatment under Houston terms

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 [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 30 million SDR, whichever is higher.


Entry-into-force provision

Agreement implemented on April 30, 2000


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.

De minimis threshold of 500 000 SDR

Payment of non-consolidated amounts before January 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 Hashemite Kingdom of Jordan commits itself to negotiate debt reorganization arrangements with all its external creditors.

The Government of the Hashemite Kingdom of Jordan 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 nature.

Organisation of the session

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