2.2 Contractual public debt

3. Also emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

4. Emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

Emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

Emphasizes that creditors and debtors must share responsibility for preventing unsustainable debt situations

32. In line with the concept of shared responsibilities and interests, debt relief and economic reform should go hand in hand.

For starters, when it comes to public debt, there is a big difference between the gross and net figures. While Japan s gross public debt, for example, is a massive 246 of GDP, the net figure, accounting for intra government debts, is 127 of GDP.

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.

Heavily indebted middle income countries must organize their efforts to arrive at joint agreements with the world's creditors.

4. Bearing in mind the joint responsibility of both debtors and creditors in the accumulation of African debt, innovative approaches involving the affected countries are required.

In November 2002, China wrote off all the mature debts totalling 9.607 million owed to it by Afghanistan.

a Excludes official public debt.

This Regulation applies only to proceedings where the centre of the debtor's main interests is located in the Community.

The other spouse is jointly liable for any debt so contracted.

Participation by debtor firms is voluntary, and requires negotiation between the debtor firm and its creditors.

7. Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

(b) Property rights created contractually to secure all types of obligations, including future obligations, fluctuating obligations and obligations described in a generic way

Sovereign debt restructurings with private creditors

In dividing joint property, the equivalent value of what is owed on the basis of joint earning in the marriage will be calculated in each one of the marital partner's shares.

Only mutualization of debt issuance can generate the low (risk free) interest rate needed to enable these countries to put their public finances on a sound footing and lay the basis for a return to economic growth. All eurozone countries should, therefore, finance debt by issuing bonds that would be jointly guaranteed by all member states.

As shown in table 1 of the same report, as at 31 March 1998, the unliquidated obligations remaining amount to 212,400.

The contractual or documented public sector debt, as of 31 December 1993, was 5,710.9 million balboas, an increase of 784.8 million balboas over 31 December 1992.

Welcoming also the actions taken by creditor countries within the framework of the Paris Club and by some creditor countries through the cancellation of bilateral debts, and urging all creditor countries to participate in efforts to remedy the external debt and debt servicing problems of developing countries,

Common premises and services

We will work with other institutions to establish a concrete framework to deliver on the G 8 initiative on debt.

The Civil War revealed the centrality of a common foundation of morality to Hamilton s approach to debt and public finance. As a result, his approach foundered on the differences between the different states conception of morality.

More ambitious pan European efforts are embodied in various Eurobond proposals. These schemes imply socialization of debt taxpayers elsewhere in Europe would share a country s debt burden.

Of this total, unliquidated obligations totalled some 3.2 million.

Common Services

His Government apos s recent agreement with Nicaragua on the settlement of its debt to the Russian Federation provided an example of such participation.

(b) Recognition that debtor States can invoke the rebus sic stantibus principle (fundamental change of circumstances rule) (the obligation is extinguished and the debtor is released from it when its fulfilment is impossible, very onerous or essentially different from when the debt was contracted)

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

There are 27 common services experts and their team leaders, who will be contacting UNCTs to work for common services arrangements.

(b) Contingent liabilities amounting to 304.4 million had not been disclosed in the financial statements

Turkey welcomed the joint World Bank International Monetary Fund Heavily Indebted Poor Countries Debt Initiative.

First, taking over a stock of existing state debt at the federal level is very different from allowing individual member states to issue bonds with joint and several liability underwritten by all member states collectively. Hamilton did not have to worry about moral hazard, because the federal government did not guarantee any new debt incurred by the states.

But it is not the only obstacle. A debt pooling scheme must also address the fact that the strongest countries will inevitably face higher interest rates on their own debts when they become jointly liable for the debts of less credit worthy governments.

We are grateful to several countries for cancelling some of our debt and for offers of moratoriums on repayment of debts.

Common services

Common staff costs

Common servicesc

L. Common service

He does not answer for these liabilities as far as his special property and as far as his portion in the joint property are concerned.

Furthermore, DMFAS consultants spent a total of 27 weeks in seven different African countries, mainly to provide training in debt management.