The G 8 and the European Union are determined to cancel 100 per cent of the debts owed by the world's poorest countries to the International Monetary Fund, the World Bank and the African Development Bank.

Expansion of the categories entitled to participate in programmes

Contributions receivable

Accounts payable

Recovery of indebtedness to the Fund

1999 and 2000 2001 amounting to 4,367,691 were distributed to eligible Member States.

Debt to Member States

Expansion of the categories entitled to unemployment benefits.

Aging analysis of contributions receivable

(p) Surplus due to Member States

The authors conclude that, by reducing the share of short term foreign currency debt in a country s total liabilities, capital controls can reduce vulnerability to financial crises.

With a debt to GDP ratio of 200 , the higher interest rate would eventually raise the government s interest bill by about 4 of GDP.

(i) Accounts receivable other

(e) Accounts receivable other

If their export revenues were to plunge relative to their debt service obligations, the result could be crises reminiscent of Latin America s in 1982 or the Asian and Russian currency crises of 1997 1998.

This burden includes both public debt (owed by the government) and external dent (owed by the country as a whole to foreigners).

Comment by the Administration. UNICEF will ensure that payables and receivables are disclosed in the financial statements for the 2004 2005 biennium, in accordance with United Nations system accounting standards.

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.

If that happens, a homeowner with a mortgage would see the real value of his debt rise by 10 . Since price declines would bring with them wage declines, the ratio of monthly mortgage payments to wage income would rise.

UNICEF agrees to review the policy of the Private Sector Division on the determination of the provision for uncollectible accounts receivable and to ensure that the provision excludes receivables that have been written off.

The debt GDP ratio was expected to top out at 150 absent the substantial write down of privately held debt, which was deemed unnecessary, the ratio would have been close to 250 .

7. Welcomes initiatives that have been undertaken to reduce outstanding indebtedness

Write off of losses of cash, receivables and property

Payments that were not received due to death can be inherited.

Write off of losses of cash, receivables and property

Accrued interest from the euro cash pool

In paragraph 23 of its report, the Board recommended that, in the future, UNICEF ensure that the value of payables and receivables is disclosed in full, in compliance with the United Nations system accounting standards.

In paragraph 66, the Board recommended that the Private Sector Division review its policy on the determination of the provision for uncollectible accounts receivable and ensure that it excludes written off receivables from provisions for uncollectible receivables.

Since then, the city has continued to borrow, mostly to service its outstanding bonds.

Provisional unencumbered balances due for distribution on 1 January 2006

With regard to the payment of arrears, he drew attention to the technical suggestions contained in paragraphs 68 and 69, which would facilitate both the payment of arrears and the work of the Secretariat and the Committee on Contributions.

The amounts due from United Nations and other agencies in statement II are as follows in United States dollars

Payments of the United Nations Institute for Training and Research owed to the United Nations 2003 2004a

The buyer was ordered to pay the outstanding amounts owed on the contract.

In the case of amounts due to other Member States, the credit balances are applied against assessments in 2006 as part of the normal ongoing financing resolutions, and hence this part of the recommendation is redundant.

A reduction in that burden of 40 , whether in the form of reduced interest or principal, is needed to bring the debt to GDP ratio to below 100 , a level at which the country has some hope of meeting its payment obligations.

In Viet Nam, education was considered the foundation for the economic empowerment of women.

Table 3 Recent sovereign debt restructurings with private creditors main features

Principal and interest on outstanding debt have been left intact.

The age of contributions receivable is as follows, in thousands of United States dollars

The amounts owed to UNIDO by the United States are as follows

In the case of Greece, the interest payments apply to government debt held by Greek individuals and institutions, as well as to government debt held by the IMF, the European Central Bank, and other foreign lenders.

Six months later, after substantial official funds had been used to pay private creditors, the outstanding private debt was substantially restructured.

(Signed) Saburo Takizawa (Signed) Wendy Chamberlin Controller and Director United Nations Acting High Division of Financial and Supply Management Commissioner for Refugees

The recommendation is that these balances be applied against their assessed contributions due in 2006.