Amounts treated
$24 million
Categories of debt treated
Treatment of maturities falling due from August 01, 1993 up to December 31, 1995
Repayment profile
Treatment under London terms (cancellation rate of 50%)
- repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 50%
- repayment of ODA credits over 30 years with 12 years of grace
Specific provisions
Possibility to conduct debt swaps
Phases
- First phase : From August 01, 1993 up to December 31, 1993, implemented at the signature of the agreement
- Second phase : From January 01, 1994 up to December 31, 1994, implemented on April 27, 1994
- Third phase : From January 01, 1995 up to December 31, 1995, implemented on July 19, 1995
De minimis threshold of 250 000 SDR
Comparability of treatment provision
yes
Cut-off date
March 31, 1989
Organisation of the session
The meeting was chaired by Mme Ariane Obolensky, Co President of the Paris Club.
The head of the debtor country's delegation was M. Paul Dossou, Minister of Finance.
Participating creditors
Observers
- CANADA, JAPAN, NORWAY, UNITED KINGDOM, UNITED STATES OF AMERICA