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Debt treatment -
October 16, 2001

Supporting agreements with the international institutions

Programme supported by an Arrangement under the Poverty Reduction and Growth Facility (PRGF) with the IMF approved on September 25, 2001
Download the IMF report : letter of intent

Total external debt of the country

$1 190 million as of December 31, 2000

$313 million of which being due to Paris Club as of December 31, 2000

Amounts treated

$180 million of which $22 million being canceled, of which $158 million being rescheduled

Accorded treatment

Restructuring of its public external debt, following the approval of an arrangement under the Poverty Reduction and Growth Facility with the International Monetary Fund on September 25, 2001

Categories of debt treated

Treatment of arrears as of September 30, 2001

Treatment of maturities falling due from October 01, 2001 up to May 30, 2007

Repayment profile

Treatment under Naples terms (cancellation rate of 67%)

  • repayment of non ODA credits over 23 years, with 6 years of grace
  • repayment of ODA credits over 40 years with 16 years of grace

Specific provisions

Possibility to conduct debt swaps

 

Phases

  • First phase : From October 01, 2001 up to September 30, 2002, implemented at the signature of the agreement
  • Second phase : From October 01, 2002 up to September 30, 2003, implemented on November 13, 2002
  • Third phase : From October 01, 2003 up to May 30, 2007, implemented on March 29, 2004

Payment of non-consolidated amounts before March 31, 2002

Comparability of treatment provision

yes

Cut-off date

July 01, 1983

Organisation of the session

The meeting was chaired by Mr. Ambroise FAYOLLE, Vice Chairman of the Paris Club.

The head of the debtor country's delegation was Mr. Peter KUYEMBEH, Minister of Finance.

Observers
  • DENMARK, RUSSIAN FEDERATION

Files attached

PRsl6870.pdf (14.09 KB)
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