Cologne Terms

Cologne Terms

A form of debt relief for heavily indebted poor countries in which the present value of payments is reduced by up to 90%. The Cologne terms were introduced by the HIPC Initiative in 1999. This form of debt relief is a type of concessional restructuring.
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In contrast, the 1999 Cologne terms allow for some debt servicing to be suspended upon completion of the first SAP, though the original servicing terms apparently can be reinstated if the second SAP is not implemented to the IMF's satisfaction.
Problems with current U.S. policy
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