A Paris Club rescheduling agreement is considered "active" until the date of the last repayment maturity due under the agreement in accordance with the repayment schedules provided for in the agreement. After this date, maturities due under the agreement are in theory repaid.
Participating creditor countries and the debtor country sign Agreed Minutes at the end of a negotiation session. This document states the commonly agreed debt treatment in writing. This is not a legally binding document but a recommendation by the heads of delegations of Participating creditor countries and of the debtor country to their governments to sign a bilateral agreement implementing the debt treatment.
Appropriate Market Rate
Interest rate defined in bilateral agreements implementing the Paris Club Agreed Minutes, based upon standard interest rates of the currency considered, plus a management fee. This rate may be fixed or variable and does not include a country-risk premium.
Debt due and not paid as of a given date. Arrears may be late payments as well as debt due a long time before.