INDONESIA
Debt Treatment
-
September 23, 1998
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Supporting aggreements with the international institutions
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IMF program
approved on
August 25, 1998
Download the IMF report :
IMF report
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Amounts treated
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$4176 million
|
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Categories of debts treated
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treatment of maturities falling due from
August 06, 1998
up to
March 31, 2000
|
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Specific provisions
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free transferability provision
The Government of the Republic of Indonesia will continue to allow unrestricted and immediate access to the foreign exchange required for servicing private sector debts owed to or guaranteed by the Participating Creditor Countries or their appropriate institutions.
Phases
-
First phase :
From
August 06, 1998
up to
March 31, 1999
implemented at the signature of the agreement
-
Second phase :
From
April 01, 1999
up to
March 31, 2000
implemented at
December 24, 1999
payment of non-consolidated amounts before
December 31, 1998
|
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Comparability of treatment provision
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In order to secure comparable treatment of its debt due to all its external public or private creditors, the Government of the Republic of Indonesia commits itself to seek promptly from all its external creditors a rescheduling or a refinancing on terms comparable to those set forth in the present Memorandum of Understanding for credits of comparable maturity, while trying to avoid any discrimination among various categories of creditors.
The Government of the Republic of Indonesia commits itself not to accord any external creditor conditions of repayment more favourable than those accorded by the Participating Creditor Countries for credits of comparable maturity.
The Government of the Republic of Indonesia will inform in writing the Chairman of the Group of Official Creditor Countries of Indonesia not later than December 31, 1998 of the status of its negotiations and of the contents of its bilateral agreements with other creditors. Afterwards, the Government of the Republic of Indonesia will further inform in writing regularly the Chairman of the Group of Official Creditor Countries of Indonesia of the status of its negotiations with other creditors, as well as of the payments made to them.
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Organisation of the session
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Participating creditors
AUSTRALIA
,
AUSTRIA
,
BELGIUM
,
CANADA
,
DENMARK
,
FINLAND
,
FRANCE
,
GERMANY
,
ITALY
,
JAPAN
,
KOREA, REPUBLIC OF
,
NETHERLANDS
,
SPAIN
,
SWEDEN
,
SWITZERLAND
,
UNITED KINGDOM
,
UNITED STATES OF AMERICA
Observers
NORWAY
,
RUSSIAN FEDERATION
,
European Commission
,
IMF
,
OECD
,
UNCTAD
,
World Bank
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