Accounts receivable after provision for uncollectible amounts

Over the last 12 months, the indebtedness problem had grown.

(t) Account debtor means a person liable for payment of a receivable.

Debt issues

For one thing, the amount of unpaid assessments had more than doubled in the reporting period.

Latin America, with the debt crisis behind it, has pursued successful structural adjustment programmes.

The Board noted that the Paris Club was continuing to review the debt situation of the poorest countries.

Recovery of indebtedness to the Fund

(d) Debt burden

Assignment of receivables

bilateral debt . 57 20

Debt issues . 40

External debt crisis

EXTERNAL DEBT CRISIS AND DEVELOPMENT

Haiti Stock of arrears and projected debt service, 2000 2005

Current debt relief schemes cover only part of the debt of LDCs.

A significant part was financed by non debt creating inflows of foreign direct investment, but external borrowing, particularly by the private sector, also grew very rapidly.

Who, if anyone, will assume responsibility for any national debt?

It would also be responsible for the monthly reconciliation of receivable and revenue accounts.

Alternatively, payment of the pre dissolution arrears could be sought from the five successor States and the post dissolution balance could be sought from Serbia and Montenegro based on the principle of estoppel.

Moreover, it has been active in advocating debt relief for LDCs in many forums.

Unfortunately, however, external debt payments were consuming the resources gained from such measures.

After that, interest should be charged on debts left outstanding for more than a year.

35. The Chairman of the Working Group on Indebtedness said that the problem of debt continued to grow.

The US is borrowing massively from abroad.

Write offs of outstanding contribution

Paris Club debt reschedulings

Servicing of external public debt

Debt sustainability

C. External trade . 33 39 11

multilateral debt . 58 59 21

A. Further debt reduction

Interest on long term debt

(f) The collection rate of prior years' arrears, as compared to the current year's assessments, was 2.3 per cent.

(f) The collection rate of prior years' arrears, as compared to the current year's assessment, was 4.7 per cent.

We are attentively following the international debate on the concept of the sustainability of external debt.

It was also proposed that transparency in the debt relief process should be enhanced through accountable mechanisms.

Thanks the Islamic Development Bank for its contribution to the Debt Relief in favour of Member States.

12. The Ministers reiterated the need for more effective measures for reduction of the debt and debt servicing burden of the developing countries including cancellation of such debt.

As I said here a year ago, the IMF has long been an advocate of increases in aid flows and debt relief, and we are working intensively on how to best give effect to the G 8 debt forgiveness proposal.

An adequate and permanent reduction in the stock of debt for countries in debt crisis undertaking economic reforms should be made.

The heavy dependence of the regular budget on extrabudgetary resources and the arrears accumulated over many years were a cause for concern.

Of these, 52 owed more than their full assessment for the year.

(ii) Steps to attach pension benefits have not been successful.

It is true that the magnitude of our debt is marginal by international standards.