Main themes of the conference are: sustainability of public debt, debt and economic development, capital market and effective debt
The balance of NIS 80 million beyond the converted amount to share capital, shall be repaid only after the full repayment of the effective debt
to banks and suppliers (as defined in the arrangement).
Directors underscored the importance of enhancing public financial and debt management and urged completion of key fiscal reforms, including the reorganization of the Ministry of Finance, developing an effective debt
and treasury cash management, establishing a treasury single account, and modernizing revenue administration.
The Minister appreciated all the efforts for effective debt
management and provided guidelines with regard to market issues and in house improvement.
The 1953 agreement, in which Greece and about 20 other countries effectively wrote off a large chunk of Germany's loans and restructured the rest, is a landmark case that shows how effective debt
relief can be.
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Representatives from the aid office, registrar, business office, faculty, advising, student activities and other departments can use their expertise to integrate effective debt
management efforts into current programs.
It is important to keep the momentum and address the remaining challenges, in particular establishing a sound and effective debt
restructuring framework that is essential for the reduction of problem loans and to enable banks to support the economy again," he added.
Moreover, low inflation usually means a stronger currency, which brings a lower effective debt
load if denominated in a foreign currency.
Also with recent changes in the law acknowledging how difficult it is for businesses to survive when their customers take too long to pay, you can now recover statutory compensation over and above the debt meaning effective debt
collection does not have to be an additional overhead.
As a result of this process, the European Central Bank (ECB) was committed to provide liquidity for BoC so the bank's liquidity will not be affected by the transfer of Laiki's effective debt
to the ECB, amounting to e1/49.