(iv) Debt adjustment to be based on actual principal payments

Members of the Committee had divergent views about the debt burden adjustment, which reflects notional repayments of principal of external debt.

Some members felt that the adjustment should rather be based on actual repayments of debt principal, the so called debt flow approach.

The commercial banking debt, principal and interest combined, comes to about B3,222 million.

35. The debt burden adjustment should continue to be based on both principal and interest payments.

Debt not only caused an outflow of capital to pay the principal and interest on external debt, but also hindered efforts to attract foreign direct investment and promote economic activity, a fact not reflected in the debt flow approach.

The gravity of the situation was even clearer in the case of Africa, since at the end of 1995 the accumulated principal and interest arrears on long term debt constituted nearly one third of external debt.

As of 31 December 1993, the interest owed on the external public debt totalled some B 1,518 million. Adding this to the principal outstanding on the contractual public debt gives a total public sector debt of B 7,228.9 million at the end of 1993.

(d) A debt burden adjustment in 1998 based on actual principal repayments and in 1999 and 2000 on the debt adjustment approach employed in the scale of assessments for the period 1995 1997

(d) A debt burden adjustment in 1998 based on actual principal repayments and in 1999 and 2000 on the debt adjustment approach employed in the scale of assessments for the period 1995 1997

(d) A debt burden adjustment in 1998 based on actual principal repayments and in 1999 and 2000 on the debt adjustment approach employed in the scale of assessments for the period 1995 1997

40. In considering this element of the scale, the Committee had before it information obtained from the World Bank on debt stock, principal repayments, the ratio of debt to national income and the ratio of debt service to export earnings for a number of Member States.

For a number of heavily indebted poor countries, shocks from collapses in principal exports, droughts and other natural disasters, and civil strife have led to unsustainable debt levels.

In June 2005 Peru offered to prepay at par up to 2 billion in principal maturities of its non ODA debt falling due between August 2005 and December 2009.

Tell the principal that our principal says hello.

Principal subjects of concern

Principal subjects of concern

Principal areas of concern

What we propose is that the debt service or principal amount should be converted into equities in new projects of at least equal value and with their own potential earnings.

Principal

(c) Principal subjects of concern

(d) Principal subjects of concern

(b) Principal subjects of concern

(a) Principal subjects of concern

C. Principal subjects of concern

B. Principal of the Fund

C. Principal subjects of concern

D. Principal subjects of concern

(d) Principal subjects of concern

(c) Principal subjects of concern

(e) Principal of the Fund

Principal Secretary

Principal publications

Principal Publications

Principal Office

Principal level.

PRINCIPAL LEVEL

Principal level

Principal level

The principal.

Principal Tao.

In that event, and notwithstanding the view of some members that the overall level of debt itself constituted a significant burden, the Committee also agreed that the adjustment should be based on data on actual principal repayments, rather than on a proportion of debt stocks, as in the current scale of assessments.

Eighteen low income countries have extinguished 12.6 billion of the 18.2 billion of eligible principal and interest arrears due to commercial banks under the IDA Debt Reduction Facility, and more recently under the Brady Plan.

Principal areas of concern and recommendations

(b) Principal place of business domicile