In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of the Borrower commits itself to seek promptly from all its external creditors debt reorganization arrangements on terms comparable to those set forth in the present Terms of Reference.

Consequently, the Government of the Republic of the Borrower commits itself to accord all categories of creditors -and in particular creditor countries not participating in the present Terms of Reference, 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.

For the purpose of the comparison between the arrangements concluded by the Government of the Republic of the Borrower with its creditor countries not listed in the present Terms of Reference on the one hand, and with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the real exposure of the creditor countries not listed in the present Terms of Reference, the level of cash payments received by those creditor countries from the Government of the Republic of the Borrower as compared to their share in the Republic of the Borrower's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take and in general the financial relations between the Government of the Republic of the Borrower and the creditor countries not listed in the present Terms of Reference.