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Debt treatment -
June 14, 1996

Amounts treated

$12 million

Categories of debt treated

Treatment of maturities falling due from January 01, 1996 up to August 31, 1998

Repayment profile

Treatment under Naples terms (cancellation rate of 67%)

  • repayment of non ODA credits over 23 years, with 6 years of grace, after cancellation to a rate of 67%
  • repayment of ODA credits over 40 years with 16 years of grace

Specific provisions

Possibility to conduct debt swaps

 

Entry-into-force provision

Agreement implemented on September 30, 1996

 

Phases

  • First phase : From January 01, 1996 up to December 31, 1996, implemented on September 30, 1996
  • Second phase : From January 01, 1997 up to December 31, 1997, implemented on March 10, 1997
  • Third phase : From January 01, 1998 up to August 31, 1998, implemented on July 02, 1998

Comparability of treatment provision

yes

Organisation of the session

Written notification signed by Mr. Bertrand de MAZIERES, Vice President of the Paris Club, to Mr. AHMAT ALHABO, Minister of Finance.

Participating creditors
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