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THE DEBT TREATED IN THE PARIS CLUB FRAMEWORK
- The debt of developping countries
  - Generalities
  - Classification
- The debt treated in Paris Club agreements
  - Definition of debt treated
  - Flow and stock treatments
KINDS OF DEBT TREATMENTS GRANTED
- Rescheduling and cancellation
- Early repayments
  - Early repayment operations
DATA
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Home page > BOLIVIA - 19981030

BOLIVIA Debt Treatment - October 30, 1998

Supporting aggreements with the international institutions	IMF program supported by the arrangement under the Enhanced Structural Adjustment Facility (ESAF) approved on September 18, 1998 Download the IMF report : Enhanced Structural Adjustment Facility Document
Amounts treated	$561 million
Categories of debts treated	treatment of the stock as of November 01, 1998
Repayment profile	treatment under Lyon terms repayment of non ODA credits over 23 years , with 6 years of grace , after cancellation to a rate of 80% repayment of ODA credits over 40 years with 16 years of grace
Specific provisions	possibility to conduct debt swaps On a voluntary basis, the Government of each Creditor Country or its appropriate institutions may sell or exchange, in the framework of debt for nature, debt for aid, debt for equity swaps or other local currency debt swaps : (i) the amounts of outstanding loans [treated in the present Agreed Minute]as regards official development aid loans and direct Government loans ; (ii) the amounts of other outstanding credits [treated in the present Agreed Minute], up to 20% of the amounts of outstanding credits as of December 31, 1991 or up to an amount of 30 million SDR, whichever is higher. pullback clause The Participating Creditor Countries reserve the right to review the implementation of the conditions stated [...] for the comparability of treatment between all external creditors ; if the Participating Creditor Countries determine that these conditions are not substantially fulfilled, or that the Government of the Republic of Bolivia has not met its payments obligations as specified in the present Agreed Minute, the provisions [...] of the present Agreed Minute will become null and void. free transferability provision The Government of the Republic of Bolivia guarantees the immediate and unrestricted transfer of the foreign exchange counterpart of all amounts paid in local currency by the private debtors in Bolivia for servicing their foreign debt owed to or guaranteed by the Participating or Observer Creditor Countries or their appropriate institutions, for which the corresponding payments in local currency have been or will be deposited in the Central Bank of Bolivia. de minimis threshold of 2 000 000 SDR payment of non-consolidated amounts before December 31, 1998
Comparability of treatment provision	In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Bolivia commits itself to seek promptly from all its external creditors debt reduction and reorganization arrangements on terms comparable in net present value to those set forth in the present Agreed Minute for credits of comparable maturity. Comparability of treatment for debt reduction in net present value is assessed not only on the basis of the reduction in the face value of the debt but also on the terms of repayment of the debts not cancelled. Consequently, the Government of the Republic of Bolivia commits itself to accord all categories of creditors -and in particular creditor countries not participating in the present Agreed Minute, commercial banks and suppliers- a treatment not more favourable than that accorded the Participating Creditor Countries. For the purpose of the comparison between the arrangements concluded by the Government of the Republic of Bolivia with its creditor countries not listed in the present Agreed Minute on the one hand, and with the Participating Creditor Countries on the other hand, all relevant elements will be taken into account, including the real exposure of the creditor countries not listed in the present Agreed Minute, the level of cash payments received by those creditor countries from the Government of the Republic of Bolivia as compared to their share in the Republic of Bolivia's external debt, the nature and characteristics of all treatment applied, including debt buy backs, and all characteristics of the reorganized claims and in particular their repayment terms whatever forms they take and in general the financial relations between the Government of the Republic of Bolivia and the creditor countries not listed in the present Agreed Minute. The Government of the Republic of Bolivia will inform in writing the Chairman of the Paris Club no later than June 30, 1999 of the progress made for this purpose in negotiations with other creditors. It will inform afterwards on a semestrial basis, the Chairman of the Paris Club of the status of its relationships with other creditors.
Cutoff date	December 31, 1985
Organisation of the session	Participating creditors AUSTRIA , BELGIUM , FRANCE , GERMANY , JAPAN , NETHERLANDS , UNITED KINGDOM , UNITED STATES OF AMERICA Observers BRAZIL , DENMARK , ITALY , NORWAY , SPAIN , IMF , Inter-American Development Bank , OECD , UNCTAD , World Bank