Agreement On Debt Relief

This agreement aims to negotiate and compromise a debt under the following conditions: the cancellation or cancellation of the debt is the partial or total cancellation of the debt, or the slowdown or end of the growth of the debt owed by individuals, companies or nations. ACKNOWLEDGMENT OF DEBT. The debtor agrees and acknowledges that he is fully indebted to the creditor. The IMF: A total debt cancellation, without full funding from bilateral donors, would cause serious harm to the Fund by radically changing its role as an anchor for the international financial system on the basis of the renewable nature of its resources. Debt cancellation would not only eliminate the granting of FGMR credits, but would also undermine the financial integrity of the Fund. The IMF`s gold reserves are a fundamental force in its financial position and give it greater credibility and an ability to support its broader adherence to crisis situations. The 1999 decision by members to use, as an exceptionally one-time measure, the revenues from investments from limited over-the-counter gold sales to finance the IMF`s contribution to the HIPC initiative has come at considerable cost to the Institute and its members. Additional sales would undermine members` confidence in the strength of the fund and hence its ability to lend. We have made great strides in implementing the enhanced HIPC initiative, but much remains to be done. The next challenge is to advance debt relief agreements for countries that are not yet eligible for HIPC discharge due to conflicts or serious governance problems. In the face of countries working for peace and stability, we believe that HIPC aid can contribute to the transition from conflict to sustainable development, and we hope to make progress as quickly as possible with these countries. But above debt relief, we look forward to being there to support their long-term development.

Debt repayment. It is understood by the parties that the debtor has an unpaid debt to the creditor. In the mutual interest of the parties, they agree that these outstanding claims are considered affordable when the debtor is required to make the payment of ______von – Under the new conditions, donors are allowed to account for rescheduled or allocated as official development assistance, the amount declared being limited to the face value of the original loan: this means that the value of a dollar of a loan and its subsequent treatment of the loan would never correspond to the , in OECD statistics on official development assistance, worth a dollar (rather than being granted). The aim is to encourage donors to reprogram or eliminate the debt of poor countries if they are unable to repay it, while applying strict reporting fairness and transparency. The Multilateral Debt Relief Initiative (MDRI) is an extension of the HIPC.