c Defaulted on restructured loans, December 1998 defaulted on interest arrears notes, June 1999.

The most important of these are lack of access to information, the measurement of loan delinquency, setting of interest rates, designing lending procedures and developing business projects.

(f) The collection rate of prior years' arrears, as compared to the current year's assessments, was 2.3 per cent.

He further intended to pay some of the arrears when Member States remitted substantial payments of their arrears, as had occurred in 1996 when the Russian Federation had paid over 200 million in arrears.

Of that amount, half was owed by 2 missions, 30 per cent was owed by 6 missions and smaller amounts were owed by another 15 missions.

In addition, the draft Principles encourage IMF to implement fully its lending into arrears (LIA) policy.

The former do not cover voluntary standstills on litigation, while the Fund LIA does.

Borrowers are organized into groups, which reduces the risk of default.

Member States who have outstanding assessed contributions should pay immediately.

Measures to encourage the payment of arrears

Arrears as a share of total debt

More strong points can be seen in the nationwide goodwill enjoyed by the bank, which enabled it to overcome commercial and regulatory hurdles, the enviably low default rate among its borrowers and the existing billing and loan collection mechanisms.

(f) Negative adjustments will be made annually to the shares in the retained surpluses account of each Member State in respect of whose arrears advances have been made from the Revolving Credit Fund.

Other Member States in arrears are encouraged to consider submitting payment plans to steadily reduce their outstanding assessed contributions.

SGL clients were organized into solidarity groups that served as the guarantee mechanism as long as each member of the group was current in her repayments, all members were eligible for additional loans.

(3)the commitments to grant loans at an interest rate which is lower than the market interest rate.

The foreclosure relief plan is off to an even slower start, and is likely to run into numerous problems concerning how to rework delinquent mortgages without inducing a lot more delinquencies.

In fact, these arrears constitute a form of de facto rescheduling which could end in default.

Total amount of arrears at time of signing the plan, in addition to current year's assessments.

The United States, together with Brazil and Ukraine, accounted for 86 per cent of all regular budget unpaid assessments at the end of 1997.

Reimbursement to the Fund would be made when Member States paid their arrears.

The debt to Member States was extremely high and delays were due not only to the failure to pay assessed contributions (four countries accounted for 68 per cent of the peacekeeping arrears as at 15 October 2004) but also to the slowness in processing requests for reimbursement.

The high default rate in the payment of loans has improved but continues to be a constraint to the mobilization of housing finance from commercial sources.

(c) A high interest rate on house loans

12. At 30 September 1998, again excluding those assessments within the 30 day due period, the largest contributor owed some 61 per cent of total outstanding peacekeeping assessments, 9 of the 14 other largest contributors owed 17 per cent and 158 of the remaining 170 Member States together owed 22 per cent.

The remaining Member States owed 12 per cent of the aggregate unpaid assessment.

The situation has worsened since 1995 arrears have tended to touch civil servants wages, foreign funds have become rare, and loans from public enterprises difficult to obtain.

Payments of arrears were therefore desperately needed from the major contributor and from 95 other Member States.

It is the intention of the Secretary General to pay additional reimbursements equal to the total arrearage contributions received.

6. Urges those Member States that have outstanding balances on foreign tax accounts receivable to provide the reimbursement due as quickly as possible

Arrears in assessed contributions

The recovery rate of loans is almost 100 percent.

(vi) Dissemination of best practices in lending policy and default control by microlending institutions.

19. Encourages Member States in arrears with their assessed contributions to the United Nations to consider submitting multi year payment plans.

However, a lump sum payment of 65,200 was received this year, reducing the outstanding amount to 1,807.

The Government was also in arrears in paying vendors, workers and personal income tax refunds.

The largest contributor owed 77 per cent of the regular budget aggregate amount, while two of the next 14 principal contributors owed 9 per cent and all other Member States in arrears owed 14 per cent of the total.

12. Also requests the Secretary General to invite those States parties to the Convention that are in arrears to pay the amounts in arrears and to report thereon to the General Assembly at its fifty third session

In addition to this increase in the real cost of debt service, deflation would mean higher loan to value ratios for homeowners, leading to increased mortgage defaults, especially in the US. A lower price level would also increase the real value of business debt, weakening balance sheets and thus making it harder for companies to get additional credit.

Documentation had been improved and the receivables outstanding for 2003 had dramatically reduced.

Interest on loans is high at present.

5. Also requests the Secretary General to invite those States parties to the Convention that are in arrears to pay the amounts in arrears, and to report thereon to the General Assembly at its fifty seventh session

5. Also requests the Secretary General to invite those States parties to the Convention that are in arrears to pay the amounts in arrears, and to report thereon to the General Assembly at its fifty ninth session

15. Also requests the Secretary General to invite those States parties to the Convention that are in arrears to pay the amounts in arrears, and to report thereon to the General Assembly at its sixty first session

16. Also requests the Secretary General to invite those States parties to the Convention that are in arrears to pay the amounts in arrears, and to report thereon to the General Assembly at its sixty third session