Mozambique has been admitted to the HIPC debt relief initiative.

Options for lower debt burdens on Governments of heavily indebted developing countries include debt cancellation and debt swaps for sustainable development.

Debt, finance and development Paris Club

(1)A serious financial difficulty occurs to the issuer or debtor

Some insolvency laws require such borrowing or credit to be approved by the court or by creditors, while other laws provide that the insolvency representative may obtain the necessary credit or finance without approval.

In July 2003, legislation was approved for the issuance of 235 million in new bonds.

The most important recent development in debt relief for LDCs is the heavily indebted poor countries (HIPC) debt initiative.

Official development assistance (ODA) and debt

Provide debt relief to all developing countries, including debt cancellation to HIPC, as well as extending the HIPC initiative, and resolving the debt problems of LDCs, low and middle income developing countries that are not eligible to debt relief under the HIPC and to explicitly link debt relief to the national development plans and efforts aimed at achieving the internationally agreed development goals including the MDGs, as well as other development goals.

Any remaining outstanding obligations shall be re obligated against the appropriations of the current financial period.

The two programmes were criticized for ignoring the need to settle the debt crisis.

(e) To reduce the unsustainable debt burden of developing countries through such actions as debt relief and, as appropriate, debt cancellation and other innovative mechanisms geared to comprehensively addressing the debt problems of developing countries, in particular the poorest and most heavily indebted ones

62 186. External debt and development towards a durable solution to the debt problems of developing countries

(153) Where a plan becomes binding on approval by creditors, without requiring confirmation by the court, the insolvency law should permit parties in interest, including the debtor, to challenge the approval of the plan.

The evolving debt strategy has contributed to the improvement in the debt situation of a number of developing countries.

Debt for equity swaps Other debt for development swaps

213. Multilateral debt accounts for a high proportion of the external debt of a number of heavily indebted developing countries.

Unliquidated obligations IFAD projects

The mechanics of debt restructuring are straightforward. Governments can offer a menu of new bonds worth some fraction of the value of their existing obligations.

Governments can offer a menu of new bonds worth some fraction of the value of their existing obligations. Bondholders can be given a choice between par bonds with a face value equal to their existing bonds but a longer maturity and lower interest rate, and discount bonds with a shorter maturity and higher interest rate but a face value that is a fraction of existing bonds face value.

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

Emphasizes the high 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 emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

On 20 December 1977, the Supreme Court of the Province of Buenos Aires approved the liquidation of the debt made by the plaintiff and set in 160 millions of Argentinean pesos the amount that the defendant should pay.

Moreover, it was observed that application of the law of the country in which the debtor had its place of business would create difficulties in case of assignments in bulk involving debtors located in several countries.

Most least developed countries have benefited from these plans, whether in the form of ODA debt cancellation, rescheduling of official debts in the Paris Club, commercial debt buy backs or multilateral debt arrangement.

2. Emphasizes the special importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can contribute to economic growth and development

Commission agents' services, wholesale trade services, retailing services, and franchising

Sovereign debt for sustained development

Urgent consideration needed to be given to providing significant debt relief or restructuring for low and middle income developing countries that were not covered by the Heavily Indebted Poor Countries (HIPC) Initiative and whose debt burden was unsustainable.

The appropriation constitutes an authorization to the Executive Director to incur obligations and to make payments for the purposes for which the appropriations were approved and up to the amount so approved.

Developing countries also had to be given debt relief, including grant based financing and 100 per cent debt cancellation.

Concerted efforts must be made to solve the debt problem, which was an impediment to the realization of sustainable development.

The external debt of SSA amounts to roughly 10 per cent of the total debt owed by developing countries to official creditors.

Oral Intervention on Debt was made at this session.

Debt situation of the developing countries as of mid 1998

Noting with concern the continuing debt and debt servicing problems of heavily indebted developing countries as constituting an element that adversely affects their development efforts and economic growth, and stressing the importance of alleviating once and for all, where applicable, their onerous debt and debt service burden with the aim of attaining a sustainable level of debt and debt service,

The Financing for Development Office is cooperating with UNDP to assess the relation between the achievement of Millennium Development Goals and debt sustainability in heavily indebted poor countries (HIPCs) and other critically indebted countries with the objective of providing an operational definition of development oriented debt sustainability.

The debt burden is crushing hopes for the relaunching of its development.

(1) In granting or denying relief under article 15 or 17, and in modifying or terminating relief under this article, the court shall take into account the interests of the creditors and other interested persons, including the debtor must be satisfied that the interests of the creditors and other interested persons, including the debtor, are adequately protected .

(q) quot Unliquidated obligation quot shall mean an obligation or that portion of an obligation which is not yet disbursed.

Urges that the approach in the debt settlement should cover all types of debt, including multilateral debt, and all indebted developing countries, and incorporate measures aimed at a once and for all reduction arrangement to reduce their debt burden to a scale that would allow them to resume their economic growth and development.

He understood the frustration over the delay in implementing the Heavily Indebted Poor Countries Debt Initiative launched in response to that problem.

There have been reductions in the ratios of debt to gross national income and debt service to export earnings since 2000, due to strenuous efforts at repayment by developing countries and some debt relief.

UNCTAD should continue its work in the area of debt, including the study of the application of debt for equity swaps for development.