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Glossary

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The net present value (NPV) of debt is defined as the sum of all future debt-service obligations (interest and principal) on existing debt, discounted at the appropriate market rate. Whenever the interest rate on a loan is lower than the market rate, the resulting NPV of debt is lower than its face value

Net Present Value

Credits and loans with a maturity of more than one year, that have been granted before the cut-off date and that have not been rescheduled pursuant to a previous Paris Club agreement.

NPRD (Non previously rescheduled debt)

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