The bonds can be structured to mature (i.e., come due) over 25 years, resulting in level annual debt service requirements.

6. Target date for repayment of advance

(a) Substantial payment of arrears are made by Member States

(e) Debt service coverage

Level annual debt service

This provision will be liquidated as and when disbursements are made.

The recent experiences of debt restructurings with private creditors are very diverse.

Light bars represent debt cancellation or rescheduling.

Paris Club debt rescheduling has been too little. With regard to bilateral debt, debt relief took the form of payment rescheduling, sometimes on concessional terms, sometimes coupled with new loan packages.

Paris Club debt reschedulings under the Evian approach

Debt service coverage and bond interest

Similarly, bilateral short term credit arrangements are used to clear arrears with other multilateral lenders.

After taking into account the many reviews that were scheduled to be conducted by the other oversight bodies, the Board limited its performance related coverage to following up on the status of implementation of its previous recommendations on the above areas, where applicable, in order to avoid a duplication of efforts.

The Committee had now considered measures to encourage the payment of arrears at eight successive sessions.

Maturities are also longer than those that can usually be obtained in a direct approach to the financial markets. 21 Some developing countries nevertheless enjoy rather good access to private finance and may be offered quite competitive terms, especially when the exchange rate risk of the multiple currency borrowing of the multilaterals is taken into account, not to mention the policy conditionality that is negotiated as part of a multilateral loan agreement.

The debt servicing problems of those LDCs that have made special efforts to meet their obligations and avoid rescheduling also deserve attention.

No other Member States have so far submitted payment plans or schedules for the elimination of their arrears.

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

Thus, the Paris Club's Evian approach relies on IMF Debt Sustainability Analysis for determining the terms of debt reschedulings.

Pursuant to article 92 of the Criminal Code, in the case of juvenile offenders the period required for the expunging of criminal records is reduced to the following levels, as appropriate

(d) Requested the Director General to pursue his efforts and contacts with Member States to effect the collection of arrears.

(d) Requests the Director General to pursue his efforts and contacts with Member States to effect the collection of arrears.

The capacity of developing countries to manage the maturity structure and currency composition of debt needs further improvement.

(c) Urges those Member States and former Member States that have not yet paid their assessed contributions, including advances to the Working Capital Fund and prior years' arrears, as well as towards the security enhancements, to do so without delay

(g) Requests the Director General to pursue his efforts and contacts with Member States to effect the collection of arrears.

(c) Requested the Director General to pursue his efforts and contacts with Member States to effect the collection of arrears.

It welcomed the initiative taken by a number of countries in concluding payment plans with UNIDO to settle their outstanding arrears.

(c) Requests the Director General to pursue his efforts and contacts with Member States to effect the collection of arrears.

Bilateral creditors may also extend a short term credit at the end of the programme to repay the outstanding arrears.

The donors might pay part of the interest cost or principal on loans and provide the funds to repay the arrears.

Advisory services to developing countries involved in Paris Club debt rescheduling meetings 19 000

That measure would avoid frequent rescheduling and would reduce the debt stock to sustainable levels.

They can lengthen their debt maturities by imposing controls on capital inflows, as Chile and Colombia have done.

A number of foreign banks, in response to a joint plea endorsed by the main political parties and groups in South Africa, have agreed to reschedule a 5 billion debt, which was due for repayment by the end of the year.

Twin current account and fiscal deficits (and or currency and debt maturity mismatches) were the rule.

The remainder would be rescheduled at market rates over 25 years with a five year grace period.

In addition to paying its arrears, the Government of Togo was making a new building available to the Centre for use as the residence of its Director.

However, they had not taken any vigorous action to enhance the reimbursement capacity of the debtor countries.

The formula included in resolution 46 221 B, paragraph 3 (c), recognized real debt payments only.

After I return, 13 million will be freed up as the government apos s contribution to the reduction of these arrears.

The Greek government has asked Europe to swap existing debts with new debts to lock in low interest rates and long maturities.

In recognition of the need to develop an elaborate mechanism to ensure that all of a country's bilateral creditors contributed equally, creditor Governments formed the Paris Club to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

To achieve this, there should be a full cancellation of all bilateral official debt and substantial reduction of debt stock and debt service burden owed to multilateral financial institutions and commercial creditors.

45. Mr. GUERRERO (Philippines) said that, while debt rescheduling schemes had benefited many countries, including the Philippines, they had not solved the external debt problem as a whole.

I have now received a request from the Government of Iraq that 2,182,168 plus 226,493 be used to settle the outstanding arrears of the Government of Iraq with the International Atomic Energy Agency (IAEA).