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MOLDOVA
Debt Treatment
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May 12, 2006
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Supporting aggreements with the international institutions
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Programme with IMF - Poverty Reduction and Growth Facility (PRGF)-
approved on
May 05, 2006
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Total external debt of the country
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$821 million
as of
December 31, 2005
,
$278 million
of which being due to the Paris Club as of
May 01, 2006
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Amounts treated
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$151 million
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Categories of debts treated
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treatment of arrears as of
April 30, 2006
,
treatment of maturities falling due from
May 01, 2006
up to
December 31, 2008
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Repayment profile
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treatment under
Houston terms
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repayment of non ODA credits over
15
years
,
with
5
years of grace
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repayment of ODA credits over
20
years
with
10
years of grace
repayment profile
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Specific provisions
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Phases
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First phase :
From
May 01, 2006
up to
April 30, 2007
implemented at the signature of the agreement
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Second phase :
From
May 01, 2007
up to
April 30, 2008
implemented at
August 07, 2007
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Third phase :
From
May 01, 2008
up to
December 31, 2008
implemented at
August 13, 2008
payment of non-consolidated amounts before
November 30, 2006
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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 Moldova commits to seek promptly from all its external creditors debt reorganisation arrangements on terms comparable to those set forth in these Agreed Minutes, while trying to avoid discrimination among different categories of creditors. Consequently, the Government of Moldova commits to accord all categories of creditors -and in particular creditor countries not participating in these Agreed Minutes, and private creditors- a treatment not more favourable than that accorded to the Participating Creditor Countries for credits of comparable maturity.
For the purpose of the comparison between the arrangements concluded by the Government of Moldova with its creditors not listed in these Agreed Minutes on the one hand, and with the Participating Creditor Countries on the other hand, all relevant elements shall be taken into account, including the real exposure of the creditors not listed in these Agreed Minutes, the level of cash payments received by those creditors from the Government of Moldova as compared to their share in Moldova'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 Moldova and the creditors not listed in these Agreed Minutes.
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Cutoff date
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December 31, 2000
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Organisation of the session
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The meeting was chaired by
M. Ramon Fernandez,
Vice-President of the Paris Club
The head of the debtor country's delegation was
M. Mihail Pop,
Minister of Finance
Participating creditors
GERMANY
,
ITALY
,
JAPAN
,
RUSSIAN FEDERATION
,
UNITED STATES OF AMERICA
Observers
FRANCE
,
NETHERLANDS
,
NORWAY
,
UNITED KINGDOM
,
European Commission
,
IMF
,
UNCTAD
,
World Bank
Press release
Read the press release
Download the press release in PDF
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