Principal and interest on outstanding debt have been left intact.

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.

During the 1980s in particular, growing quantities of debt interest and principal constituted major outflows.

ODA debt is rescheduled over 30 years, with no principal due for 12 years.

Debt forgiveness should be a minimum of 50 per cent of existing debt, the original principal of which, as I pointed out earlier, has long been repaid.

When it does, it must write down the principal value of that debt by at least 50 .

Concessional debt will be rescheduled over 30 years, with 12 years apos grace on principal repayments.

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.

Their cash balances are extremely high, interest payments on debt are low, and principal obligations have been termed out.

This solution limits the risk of contagion and the potential losses that financial institutions would bear if the value of debt principal were reduced.

More likely would be an IMF organized restructuring of the existing debt, swapping new bonds with lower principal and interest for existing bonds.

Extending this idea to sovereign debt, government bond covenants could stipulate that if a sovereign s debt GDP ratio exceeds a specified threshold, principal and interest payments to bondholders would be automatically reduced.

They could buy bad loans from lenders and forgive part of the principal payable by borrowers, simultaneously reducing lenders collateral requirements and borrowers debt overhang.

Creditors could be offered these par bonds, or a shorter term bond with a higher coupon but with debt principal marked down.

Greece s default on its national debt need not mean an explicit refusal to make principal and interest payments when they come due.

Principal subjects of concern

PRINCIPAL ORGANS ELECTION OF

List of principal contacts.

Principal

Africa apos s low commodity prices and crushing external debt burden are the principal factors responsible for the continent apos s poor economic performance.

(c) Principal subjects of concern

(d) Principal subjects of concern

(b) Principal subjects of concern

(a) Principal subjects of concern

(b) Principal subjects of concern

(a) Principal subjects of concern

(c) Principal subjects of concern

(d) Principal subjects of concern

(c) Principal subjects of concern

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.

Principal Secretary

Principal publications

Principal Publications

Principal accounts

Principal Office

Principal level.

Principal level

(Principal level)

(Principal level)

(principal level)

(Principal level)

Principal level

Vice principal.

The principal.