
HENEGHAN: Further Updates on Ambassador Leo Wanta
Tom Heneghan International Intelligence Expert
UNITED STATES of America - Further updates on Ambassador Leo Wanta:
From: Ambassador Lee Emil Wanta ..
Subject: The Leo Wanta Saga
To: "The Honorable Barack H Obama" ..e.gov>, "The Honorable Barack H. Obama" .., "President Barack Obama" .., "President Barack Obama" ..
Cc: "Chair Lawrence Summers _Mr Bryan Jung" .., "AFL-CIO Now" ..aflcio.org>, "AFL-CIO_Bob Baugh" .., "AFL-CIO_Eddie Evale" .., "AFL-CIO_President Richard Trumka" .., "Ambassador Lee E Wanta" ..hotmail.com>, "Mr David Axelrod" .., "The White House_David Axelrod" .., "FDIC_Chair Sheila Bair" .., "The Honorable Joseph Biden" .., "Vice President Joe Biden" .., "DNI_Admiral Dennis Blair" ..gmail.com>, "Andrew Colesanti" .., "Richard C. Ferlauto_AFSCME" .., "US Special Counsel Patrick J. USAILN Fitzgerald [USAILN]" .., "Chicago Alderman_Manny Manuel Flores" ..o.org>, "The Honorable Timothy Geithner" ..treas.gov>, "US Army Inspector General General Green" .., "Attorney General Eric Holder" .., "Secretary Ray LaHood" ..dot.gov>, "NSA_General James Jones" .., "Chair Christina Romer" ..eop.gov>, "SEC_Chair Mary Schapiro" ..sec.gov>, "US Department of Transportation Reference Service" .., "US Senator Jim Webb" .., "US Senator Patty Murray" ..senate.gov>, "WI Attorney General J B Van Hollen" ..nforag.com>, "Chairman Paul A. Volcker" .., "Harvard_Professor Elizabeth Warren" ..harvard.edu>
Date: Wednesday, February 24, 2010, 12:01 PM
The Leo Wanta Saga
By sitidw
http://bungur.wordpress.com/2010/02/19/the-leo-wanta-saga/
1. The Paris Club was formed in 1956. It is an informal group of creditor governments from major industrialized countries.
2. The members of the Paris Club which participated in the reorganization of the Democratic Republic of Congo's debt were representatives of the governments of Austria, Belgium, Canada, Denmark, France, Germany, Italy, Japan, the Netherlands, Norway, the Russian Federation, Spain, Sweden, the United Kingdom and the United States of America. Brazil also participated in this reorganisation.
Observers at the meeting were representatives of the International Monetary Fund, the International Development Association and the African Development Bank.
3. The delegation of the Democratic Republic of Congo was headed by Mr. César LUBAMBA NGIMBI, Minister of Urban Development and Housing. The meeting was chaired by Ms. Delphine d'AMARZIT, Co Chairperson of the Paris Club, Assistant Secretary at the Treasury and Economic Policy Department of the French Ministry of Economy, Industry and Employment.
Technical notes
1. The Democratic Republic of Congo's economic program is supported by a three year arrangement under the Extended Credit Facility approved by the International Monetary Fund on 11 December 2009. The Democratic Republic of Congo reached the decision point under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative in July 2003.
2. The stock of debt owed to Paris Club creditors as of 30 June 2009 was estimated to be USD 6,920 million.
3. The cut-off date (30 June 1983 for the Democratic Republic of Congo) is used by Paris Club creditors for the sole internal purposes of the Paris Club agreement. In accordance with Paris Club rules, credits granted after this cut-off date are not subject to rescheduling or cancellation. The cut-off date is designed to protect credits granted by Paris Club creditors after this date. It therefore helps restore access to credit for debtor countries after a Paris Club treatment.
4. Under the Cologne terms, amounts due under debts not granted under Official Development Assistance (ODA) conditions are treated so as to reach a 90% cancellation rate taking into account previous cancellations undertaken by Paris Club creditors, the remaining amounts are rescheduled over 23 years with a 6-year grace period. The amounts due under debts granted under ODA conditions are rescheduled over 40 years with a 16-year grace period.
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