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The Debts of Overseas Governments (Determination of Relevant Percentage) Regulations 1990
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- UK Statutory Instruments
- 1990 No. 2529
- SCHEDULE 1
- THE A FACTORS
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THE A FACTORS
2. The A factors in the case of a State or territory, which are factors which show the inability or unwillingness of the State or territory to meet its obligations when they are due or thereafter, and the numerical values attributable to them are those given by Table A below.
Table A
| Factor | Numerical value |
|---|---|
(1) The State or territory has taken unilateral action to suspend, either in whole or in part, repayment of debts or payment of interest on debts to a general class of external creditors and at the relevant date the suspension has been in effect– | |
| for three months or less, or is about to end; | 2 |
| for more than three months but not more than one year; | 4 |
| for more than one year but not more than three years; | 8 |
| for more than three years. | 12 |
(2) (a) The State or territory has entered into an agreement to reschedule or restructure its obligations as to repayment of debts, or payment of interest on debts, to external creditors and at the relevant date the agreement was entered into– | |
| more than three years ago but not more than five years ago; | 6 |
| more than two years ago but not more than three years ago; | 8 |
| two years ago or less or has only been reached in principle. | 12 |
(b)The State or territory within the period of five years preceding the relevant date has refused to co-operate in a rescheduling or restructuring of its obligations as to repayment of debts, or payment of interest on debts, to external creditors and either– (i)has imposed a limit on its performance of such obligations, without the agreement of those creditors, or (ii)has had severe problems in performing those obligations, so that it might have been expected to have entered into an agreement on more than one occasion to reschedule or restructure them and, if it had done so, would be likely still to have arrears of repayment or interest at the relevant date. | 12 |
(3) (a) The State or territory has entered into a further agreement to reschedule or restructure obligations as to repayment of debt to external creditors wich have already been rescheduled or restructured since January 1983 and at the relevant date the further agreement was entered into– | |
| more than two years ago but not more than five years ago; | 6 |
| more than one year ago but not more than two years ago; | 8 |
| one year ago or less or has only been reached in principle. | 12 |
(b)The State or territory within the period of five years preceding the relevant date has refused to co-operate in a rescheduling or restructuring of its obligations as to repayment of debt to external creditors and either– (i)has imposed a limit on the performance of such obligations without the agreement of those creditors, or (ii)has had severe problems in performing those obligations, so that it might have been expected to have entered into an agreement on more than one occasion to reschedule or restructure them and, if it had done so, would be likely still to have arrears of repayment at the relevant date. | 12 |
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