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In the context of the preparation of each Paris Club debt treatment, the Paris Club Secretariat makes a debt reconciliation between creditor's data and debtor's data. For this purpose, debt data is collected from debtors and creditors according to a standard format as defined below.
This information is for working purposes, and offers a very partial and static view of the debt of a country (because it is collected only for the purpose of negotiation's purposes and is therefore not reported at the same date for all debtor countries). Information on debt stocks and flows for all debtor countries is available from the relevant sources (see organisations compiling and publishing debt figures).
You can find hereafter some indications about the Paris Club debt tables and the way to complete them:
1/ "Outstanding amounts".
This amount is divided into 3 parts : principal, interest and total amount. The amount of total outstanding debt must be equal to the sum of all the maturities and arrears. The amount of principal outstanding is the sum of all arrears (principal and interest) plus all future maturities in principal. The amount of interest outstanding must be equal to the sums of all the future maturities in interest.
2/ "Arrears".
The amount of arrears is the amount of maturities in principal and in interest due and not paid at the precise date. For example, "arrears as of March 31, 2000" means arrears that were existing at the date of March 31, 2000, even if payments have been done afterwards, at the moment where the tables are being completed. Unless specifically requested, no late interest is to be computed and added to the amount of arrears (late interest applies after the signature of the Agreed Minutes as defined in the bilateral agreement).
3/ "Governmental loans" and "commercial credits".
"Governmental loans" refer to the loans granted by the governments or appropriate institutions of the Creditor Countries. Government loans may be under "Official Development Assistance" (ODA) terms, as defined by the OECD (low interest loans aimed at development).
"Commercial credits" refer to credits guaranteed or insured by the governments or appropriate institutions of the Creditor Countries.
4/ "Short-term credits"
This refers to credits that have an original maturity of one year or less. Maturity is defined as the difference between the last principal repayment and the date when the credit starts (usually from the disbursement or the delivery of the goods).
All other credits, having an original maturity of more than one year, are medium-and-long-term credits.
5/ "Public sector"
Public sector is defined (unless otherwise specified) as the government of the debtor country, as well as the companies or other entities under governmental control (where the government has a direct or indirect share of 50% or more). Paris Club creditors have often taken a flexible approach for defining debt treatment.
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