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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 > TANZANIA, UNITED REPUBLIC OF - 20020117

TANZANIA Debt Treatment - January 17, 2002

Supporting aggreements with the international institutions	IMF program approved on April 04, 2000 Download the IMF report : letter of intent
HIPC Initiative	Completion point reached on November 27, 2001
Total external debt of the country	$6185 million as of June 30, 2001 , $1750 million of which being due to the Paris Club as of November 01, 2001
Amounts treated	$1245 million , of which $973 million being canceled , of which $272 million being rescheduled
Categories of debts treated	treatment of the stock as of January 01, 2002
Repayment profile	treatment under HIPC Initiative Exit terms
Specific provisions	possibility to conduct debt swaps On a voluntary and bilateral basis, each Participating 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) all ODA loans ; (ii) amounts of outstanding credits, loans and consolidations on debts mentioned in Article II-1. above other than official development assistance loans, up to 20% of the amounts of outstanding credits as of December 31, 1991 or up to an amount of 40 million dollars of the United States of America, whichever is higher. Participating creditor countries and the United Republic of Tanzania will inform semi-annually the Secretariat of the Paris Club, who will inform other creditors, of the debt swap agreements they have implemented. All elements necessary to evaluate the operation, its impact on Tanzania's economy and on the evolution of creditor's exposure will be transmitted to the Secretariat, including : its nature and purpose ; the parties to the debt swap ; the amount, type and value of the debt treated ; the price of sale to investors and the expense of the United Republic of Tanzania. payment of non-consolidated amounts before July 01, 2002
Comparability of treatment provision	1. The United Republic of Tanzania was declared eligible to the Debt Initiative for the Heavily Indebted Poor Countries by the Boards of the International Monetary Fund and the International Development Association in April 2000 and was declared to have reached its completion point under the Debt Initiative for the Heavily Indebted Poor Countries by the Boards of the International Monetary Fund and the International Development Association on November 27, 2001. In this context, the United Republic of Tanzania 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 as compared to their share in Tanzania'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 United Republic of Tanzania and creditor countries not listed in the present Agreed Minute.
Cutoff date	June 30, 1986
Organisation of the session	The meeting was chaired by Mrs Stéphane PALLEZ, Co President of the Paris Club The head of the debtor country's delegation was Mr Basil MRAMBA, Minister for Finance Participating creditors AUSTRALIA , AUSTRIA , BELGIUM , BRAZIL , CANADA , FRANCE , GERMANY , ITALY , JAPAN , NETHERLANDS , NORWAY , RUSSIAN FEDERATION , UNITED KINGDOM , UNITED STATES OF AMERICA Observers DENMARK , SPAIN , African Development Bank , IMF , OECD , UNCTAD , World Bank Press release Read the press release Download the press release in PDF