BOLIVIA
Debt Treatment
-
July 10, 2001
|
Supporting aggreements with the international institutions
|
Program with the IMF under the Poverty Reduction and Growth Facility (PRGF)
approved on
September 18, 1998
Download the IMF report :
Completion Point Document for the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative
|
|
HIPC Initiative
|
Completion point
reached on
June 08, 2001
|
|
Total external debt of the country
|
$4440 million
as of
December 31, 2000
,
$1350 million
of which being due to the Paris Club as of
July 01, 2001
|
|
Amounts treated
|
$685 million
,
of which
$685 million
being canceled
|
|
Categories of debts treated
|
treatment of the stock as of
July 01, 2001
|
|
Repayment profile
|
treatment under
HIPC Initiative Exit terms
|
|
Specific provisions
|
payment of non-consolidated amounts before
October 31, 2001
|
|
Comparability of treatment provision
|
In the context of its eligibility to the Enhanced Debt Initiative for the Heavily Indebted Poor Countries decided by the Boards of the IMF and the International Development Association on February 8, 2000 and having reached its completion point under the Enhanced Debt Initiative for the Heavily Indebted Poor Countries as indicated in the decision by the International Development Association and the IMF Boards respectively dated June 5 and June 8, 2001, the Government of the Republic of Bolivia commits itself to seek promptly from all its external creditors which are not participating in the present Agreed Minute their appropriate contribution in terms of debt relief to the Enhanced Debt Initiative for the Heavily Indebted Poor Countries, on top of traditional debt relief mechanisms and consistent with the proportional burden sharing based on their relative exposure in net present value of total external debt at decision point after the full use of traditional debt relief mechanisms.
The appropriate nature of the debt relief provided will be assessed not only on the basis of the reduction in the net present value of the debt as computed under appropriate market rate but also on the terms of repayment of the debts not cancelled. For this purpose, all relevant elements will be taken into account including the level of cash payments received by those creditors from the Government of the Republic of Bolivia as compared to their share in 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 creditor countries not listed in the present Agreed Minute.
Consequently, the Government of the Republic of Bolivia commits itself not to accord any category of creditors -and in particular creditor countries not participating in the present Agreed Minute, commercial banks and suppliers- a treatment more favourable than that accorded the Participating Creditor Countries.
|
|
Cutoff date
|
December 31, 1985
|
|
Organisation of the session
|
The meeting was chaired by
Stéphane PALLEZ,
co-chairman of the Paris Club
The head of the debtor country's delegation was
Juan Antonio MORALES,
governor of the central bank of Bolivia
Participating creditors
AUSTRIA
,
BELGIUM
,
BRAZIL
,
CANADA
,
DENMARK
,
FRANCE
,
GERMANY
,
ITALY
,
JAPAN
,
NETHERLANDS
,
SPAIN
,
SWEDEN
,
UNITED KINGDOM
,
UNITED STATES OF AMERICA
Observers
RUSSIAN FEDERATION
,
IMF
,
Inter-American Development Bank
,
UNCTAD
,
World Bank
Press release
Read the press release
Download the press release in PDF
|
|
