Paris Club Conditions Are Being [Archives:1997/42/Front Page]
Implemented: Yemen’s 2nd Round of Debt Re-scheduling
The Yemeni government is holding talks with its creditors in order to achieve a second re-scheduling of its foreign debt. About a third of the country’s some US$ 9 billion debt is covered by the Paris Club agreement. The rest of the foreign debt, owed to Russia, has been negotiated by the World Bank under a 94% discounted buy-out scheme. The balance is subject to Paris Club Re-scheduling. Meanwhile, Yemen exchanged notes on October 15th, 1997, concerning the re-scheduling of its some 1.5 billion yen debt to Japan. This arrangement enables Yemen to obtain debt relief grant aids from Japan.