Selanjutnya
Agreement
between the Government of the Republic
of Indonesia and the Government of the
Czechoslovak Socialist Republic on the
consolidation of Indonesia's debt obligations
The Government of the Republic of Indonesia and
the Government of the Czechoslovak Socialist Republic,
with reference to the Agreement between the Republic
of Indonesia and the Czechoslovak Socialist Republic
on the Payments of Indonesian Obligations, and to the
Protocol to the said Agreement, both concluded in Praha
on September 22, 1967, and
I
I
Ille Government of the Czechoslovak Socialist Republic
recognizing urgent needs of the Indonesian national economy
for adoption of exceptional measures for a long-term rearran,
gement of payments of Indonesia s external debts and exceptionally meeting a request of the Government of the Republic of
Indonesia in this matter,
1
As a result of the discussions held in Praha,
Have agreed on the following:
I
I
ｾ
I
ｉ＠
2.
Article
l
The subject of this Agreement is the consolidation of
Indonesia's debt obligations which comprise maturities of
principal and interest originating from
a) Short-term obligations and credits as well as long-term
credits, based on trade agreements, agreement on industrial
development of 1956 and protocol of 1959, agreement on
economic cooperation of 1960;
I
b) Long-term credits concerning deliveries of special materials and technical aids, baaed on agreements signed
in the years 1958 - 1962, the protocol on rescheduling
of May 18, 1964 and the agreement of October 29, 1964.
I
I
I
Article
i
2
I
The total of debt obligations, stipulated in Article 1,
which were made the object of the agreement of September 22,
1967, amount as of the date of January 1, 1970, to US Dollars
78.017·.198,94 consisting of principal of US Dollars
68.746.354,17 and interest of US Dollars 9.270.844,77.
I
r
Article
3
The total amount of principal shall be repaid by the
Government of the Republic of Indonesia to the Government
of the Czechoslovak Socialist Republic in thirty equal annual
instalments starting from the year 1970, each instalment
amounting to OS Dollars 2.291.545,14 •
•
ｾｐ＠'
I
I
I
I
3.
I
I
The total amount of interest shall be repaid in fifteen
equal annual instalments starting from the year 1985, each
instalment amounting to US Dollars 618.056,32.
!,
I
The payment of principal and interest shall be made not
later than December 10 of the current year.
The instalment of principal due for 1970 shall be paid
not later than June 30, 1971.
The instalment of principal due for 1971 shall be paid
not later than December 10, 1971.
Article
I
I
4
No moratorium or any other interest shall be charged to
the consolidation and repayment schedule stipulated in Article 3,
except in the case of deferment mentioned in Article 6 hereunder
1
I
Article
5
Currency of accounting will be the US Dollar, and the
currency of repayments will be US Dollar or other freely
convertible currency acceptable to aeskoslovenska obchodni
b&nka, a.s., Praha.
Article
6
The Government of the Republic of Indonesia is entitled
to def er part of the payment of the first eight instalments
of the principal to the period of 1992 - 1999 on the following
conditions:
a) Each deferment will not be more than
instalment and
Ｕｾ＠
of the relevant
b) The total amount deferred will not exceed the total of
three annual instalments. The amount deferred will be
repaid in eight equal annual instalments, the first one
becoming payable not later than December 10, 1992.
Interest at the rate of Ｔｾ＠ per annum will be charged on
the outstanding defj rred balances as from the dates
of deferment, payable always not later than December 10
of each year starting in the year which will follow the
year ｾｮ＠ which the deferment was requested •
..
Article
7
The payment schedules stipulated in Articles 3 and 6
will be subject to a review in the 1980's through mutual
consultations which in the light of the then prevailing
economic situation in Indonesia may lead to either an aoceleration of the payments of the maturities of principal
and interest or to a reduction in the payment of interest·•'
Article
II
8
The Government of the Republic of Indonesia .will accord
to the Government of the Czechoslovak Socialist Republic
treatment no less favourable than that which it has accorded
or may hereafter accord to any other creditor country for
the consolidations of Indonesian debts of a comparable
nature and term contracted before 31st December, 1966.
I
I
I
I
-
I
5.
I:
---i
I
I
'
I
Article
9
II
I
I
II
Within three months after the signing of the present
Agreement, Bank Indonesia and ｾ･ｳｫｯ｡ｬｶｮ＠
obchodni banka,
a.a., each acting for and on behalf of their respective
Governments, will come into an agreement for the implementation of the present Agreement. Any instalment as indicated
in Article 3 of the present Agreement shall be payable on
the dates stipulated therein irrespectively of whether the
inter-bank agreement will have or will have not been concluded
in due time.
!
Article 10
11
II
!
I
With the coming into force of the present Agreement
all provisions in the original contracts, agreements and
protocols referred to in Article l of the present Agreement
as well as the agreement and protocol of September 22, 1967
on the payments of Indonesia's obligations stipulating the
terms and conditions as well as methods of calculations of
payments which are not in conformity with the provisions
of the present Agreement are declared null and void.
The present Agreement shall come into force on the
date of its signing.
Done in Praha on
the English ｬ｡ｮｧｵ･Ｌ
ｃＧＢｾ
of
ｴｨＡｾｰｵ｢ｬｩ｣＠
ｾ Ｍ
ｾ Ｘｾ
ｾｴｨ＠
Ｌ ＱＹＷ＠
in two originals in
being equally authentic.
the Government
of Indonesia of
Signed
ｴｨｾｺＭ･｣ｯｳｬＮｑｶ｡ｫ＠
Por the Government
Socialist
ｒ･ｰｵ｢ｬｾ＠
Signed
I
Chairman
of the Indonesian Delegation
Praha,
ｊｾ＠
ｾ［＠
1971
Confidential
Excellency,
Referring to the Agreement between the Government of
the Republic of Indonesia and the Government of the Czechoslovak Socialist Republic on the consolidation of Indonesia' a debt obligations signed on ｴｯｾＧｳ＠
date, I have the
honour to confirm the following understanding reached between us.
1.
The Government of the Republic of Indonesia will avail
itself of the option to defer the payment of 50% of each
annual instalment of the principal during the years 1970 1975, as provided for in Article 6 of the abovementioned
Agreement.
,
2.
The proceeds of Indonesia s rubber exports still to be
transferred by ｾ･ｳｫｯｬｶｮ｡＠
obchodni banka, a.s., Praha
to the amount o.f US Dollars 2.832.391,49 will be settled in
the following manner:
a) Each year one-eighth of the rubber export proceeds
referred to above will be compensated as partial payment of
the annual instalments of principal due to the Government
of the Czechoslovak Socialist Republic during the years
1970 up to and including 1977.
b) Consequently, the Government ot the Republic of Indonesia
will ｰｾ＠
in cash the balance of the annual instalments of
the principal during the first 8 years according to the
following schedule:
2.
1970
1971
1972
1973
1974
1975
1976
1977
J.
..
us
us
us
Dollars
Dollars
Dollars
US Dollars
us Dollars
us Dollars
us Dollars
us Dollars
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
1.937.496,21
1.937.496,21
ｾ･ｳｫｯｬｶｮ｡＠
obchodni banka, a.s., Praha as well as
the respective Czechoslovak importers are hereby absolved
from liabilities towards Indonesian exporters and/or banks
arising from the abovementioned export proceeds •
The present letter and your reply will constitute
an integral part of the Agreement referred to above.
shall be grate:tul if you will confirm the correctness
of this understanding.
I
Please accept, Excellency, the assurances of
consideration.
my
Yours sincerely,
Signed
Excellency
Ing. Andrej B a r c a k
Minister of Foreign Trade
of the Czechoslovak Socialist Republic
Chairman of the Czechoslovak Delegation
Pr aha
highest
Chairman
of the Czechoslovak Delegation
Praha,
ｾＳ
Conf(dential
Ｑ ＱＹＷ＠
Excellency,
I have the honour to acknowledge receipt of your letter
of today's date reading as follows:
,;
"Referring to the Agreement between the GovenlIJlent of
the Republic of Indonesia and the Government of the Czechoslovak Socialist Republic on the consolidation of Indonesia' a debt obligations signed on today's date, I have the
honour to confirm the following understanding reached between us.
l.
The Government of the Republic of Indonesia .will avail
itself of the option to defer the pa)'Dlent of Ｕｾ＠
of each
annual instalment of the principal during the years 1970 1975, as provided for in Article 6 of the abovementioned
Agreement.
2.
The proceeds of Indonesia's rubber exports still to be
transferred by Ceskoslovenska obchodni banka, a.s., Praha
to the amount of US Dollars 2.832.391,49 will be settled in
the f ollowi.ng manner:
a) Each year one-eighth of the rubber export proceeds
referred to above will be compensated as partial payment of
the annual instalments of principal due to the Government
of the Czechoslovak Socialist Republic during the years
1970 up to and including 1977.
f
2.
b) Consequently, the Government of the Republic of Indonesia
will pay in cash the balance of the annual instalments of
the principal during the first 8 years according to the
following schedule:
1970
1971
1972
1973
1974
1975
1976
1977
3.
us
us
us
us
us
us
us
us
Dollars
Dollars
Dollars
Dollars
Dollars
Dollars
Dollars
Dollars
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
1.937.496,21
1.937.496,21
ｾ･ｳｫｯｬｶｮ｡＠
obchodni banka, a.s., Praha as well as
the respective Czechoslovak importers are hereby absolved
from liabilities towards Indonesian exporters and/or banks
arising from the abovementioned export proceeds.
The present letter and your reply will constitute
an integral part of the Agreement referred to above.
I shall be grateful if you will confirm the correctness
of this understanding."
In reply I have the honour to confirm the above understanding.
Please accept, Excellency, the assurances of my highest
consideration.
Excellency
H. Adam M a l i k
Minister of Foreign Affairs
of the Republic of Indonesia
Chairman of the Indonesian Delegation
Praha
Signed
GOVERNMENT OF THE CZECHOSLOVAK SOCIALIST REPUBLIC
Whereas an agreement is to be signed which may
represent an outcome of the negotiations concerning
the rearrangement of maturities of Indonesian debts
owed to the Czechoslovak Socialist Republic, the
Government of the Czechoslovak Socialist Republic
have appointed and do hereby appoint
Ing • And re j
B a r
cak
,
Minister of Foreign Trade of the
Czechoslovak Socialist Republic,
as their plenipotentiary and invest him with full powers
to sign the above- said agreement.
Prague, May
f ,
1971.
Signed
Minister of Foreign Affairs
between the Government of the Republic
of Indonesia and the Government of the
Czechoslovak Socialist Republic on the
consolidation of Indonesia's debt obligations
The Government of the Republic of Indonesia and
the Government of the Czechoslovak Socialist Republic,
with reference to the Agreement between the Republic
of Indonesia and the Czechoslovak Socialist Republic
on the Payments of Indonesian Obligations, and to the
Protocol to the said Agreement, both concluded in Praha
on September 22, 1967, and
I
I
Ille Government of the Czechoslovak Socialist Republic
recognizing urgent needs of the Indonesian national economy
for adoption of exceptional measures for a long-term rearran,
gement of payments of Indonesia s external debts and exceptionally meeting a request of the Government of the Republic of
Indonesia in this matter,
1
As a result of the discussions held in Praha,
Have agreed on the following:
I
I
ｾ
I
ｉ＠
2.
Article
l
The subject of this Agreement is the consolidation of
Indonesia's debt obligations which comprise maturities of
principal and interest originating from
a) Short-term obligations and credits as well as long-term
credits, based on trade agreements, agreement on industrial
development of 1956 and protocol of 1959, agreement on
economic cooperation of 1960;
I
b) Long-term credits concerning deliveries of special materials and technical aids, baaed on agreements signed
in the years 1958 - 1962, the protocol on rescheduling
of May 18, 1964 and the agreement of October 29, 1964.
I
I
I
Article
i
2
I
The total of debt obligations, stipulated in Article 1,
which were made the object of the agreement of September 22,
1967, amount as of the date of January 1, 1970, to US Dollars
78.017·.198,94 consisting of principal of US Dollars
68.746.354,17 and interest of US Dollars 9.270.844,77.
I
r
Article
3
The total amount of principal shall be repaid by the
Government of the Republic of Indonesia to the Government
of the Czechoslovak Socialist Republic in thirty equal annual
instalments starting from the year 1970, each instalment
amounting to OS Dollars 2.291.545,14 •
•
ｾｐ＠'
I
I
I
I
3.
I
I
The total amount of interest shall be repaid in fifteen
equal annual instalments starting from the year 1985, each
instalment amounting to US Dollars 618.056,32.
!,
I
The payment of principal and interest shall be made not
later than December 10 of the current year.
The instalment of principal due for 1970 shall be paid
not later than June 30, 1971.
The instalment of principal due for 1971 shall be paid
not later than December 10, 1971.
Article
I
I
4
No moratorium or any other interest shall be charged to
the consolidation and repayment schedule stipulated in Article 3,
except in the case of deferment mentioned in Article 6 hereunder
1
I
Article
5
Currency of accounting will be the US Dollar, and the
currency of repayments will be US Dollar or other freely
convertible currency acceptable to aeskoslovenska obchodni
b&nka, a.s., Praha.
Article
6
The Government of the Republic of Indonesia is entitled
to def er part of the payment of the first eight instalments
of the principal to the period of 1992 - 1999 on the following
conditions:
a) Each deferment will not be more than
instalment and
Ｕｾ＠
of the relevant
b) The total amount deferred will not exceed the total of
three annual instalments. The amount deferred will be
repaid in eight equal annual instalments, the first one
becoming payable not later than December 10, 1992.
Interest at the rate of Ｔｾ＠ per annum will be charged on
the outstanding defj rred balances as from the dates
of deferment, payable always not later than December 10
of each year starting in the year which will follow the
year ｾｮ＠ which the deferment was requested •
..
Article
7
The payment schedules stipulated in Articles 3 and 6
will be subject to a review in the 1980's through mutual
consultations which in the light of the then prevailing
economic situation in Indonesia may lead to either an aoceleration of the payments of the maturities of principal
and interest or to a reduction in the payment of interest·•'
Article
II
8
The Government of the Republic of Indonesia .will accord
to the Government of the Czechoslovak Socialist Republic
treatment no less favourable than that which it has accorded
or may hereafter accord to any other creditor country for
the consolidations of Indonesian debts of a comparable
nature and term contracted before 31st December, 1966.
I
I
I
I
-
I
5.
I:
---i
I
I
'
I
Article
9
II
I
I
II
Within three months after the signing of the present
Agreement, Bank Indonesia and ｾ･ｳｫｯ｡ｬｶｮ＠
obchodni banka,
a.a., each acting for and on behalf of their respective
Governments, will come into an agreement for the implementation of the present Agreement. Any instalment as indicated
in Article 3 of the present Agreement shall be payable on
the dates stipulated therein irrespectively of whether the
inter-bank agreement will have or will have not been concluded
in due time.
!
Article 10
11
II
!
I
With the coming into force of the present Agreement
all provisions in the original contracts, agreements and
protocols referred to in Article l of the present Agreement
as well as the agreement and protocol of September 22, 1967
on the payments of Indonesia's obligations stipulating the
terms and conditions as well as methods of calculations of
payments which are not in conformity with the provisions
of the present Agreement are declared null and void.
The present Agreement shall come into force on the
date of its signing.
Done in Praha on
the English ｬ｡ｮｧｵ･Ｌ
ｃＧＢｾ
of
ｴｨＡｾｰｵ｢ｬｩ｣＠
ｾ Ｍ
ｾ Ｘｾ
ｾｴｨ＠
Ｌ ＱＹＷ＠
in two originals in
being equally authentic.
the Government
of Indonesia of
Signed
ｴｨｾｺＭ･｣ｯｳｬＮｑｶ｡ｫ＠
Por the Government
Socialist
ｒ･ｰｵ｢ｬｾ＠
Signed
I
Chairman
of the Indonesian Delegation
Praha,
ｊｾ＠
ｾ［＠
1971
Confidential
Excellency,
Referring to the Agreement between the Government of
the Republic of Indonesia and the Government of the Czechoslovak Socialist Republic on the consolidation of Indonesia' a debt obligations signed on ｴｯｾＧｳ＠
date, I have the
honour to confirm the following understanding reached between us.
1.
The Government of the Republic of Indonesia will avail
itself of the option to defer the payment of 50% of each
annual instalment of the principal during the years 1970 1975, as provided for in Article 6 of the abovementioned
Agreement.
,
2.
The proceeds of Indonesia s rubber exports still to be
transferred by ｾ･ｳｫｯｬｶｮ｡＠
obchodni banka, a.s., Praha
to the amount o.f US Dollars 2.832.391,49 will be settled in
the following manner:
a) Each year one-eighth of the rubber export proceeds
referred to above will be compensated as partial payment of
the annual instalments of principal due to the Government
of the Czechoslovak Socialist Republic during the years
1970 up to and including 1977.
b) Consequently, the Government ot the Republic of Indonesia
will ｰｾ＠
in cash the balance of the annual instalments of
the principal during the first 8 years according to the
following schedule:
2.
1970
1971
1972
1973
1974
1975
1976
1977
J.
..
us
us
us
Dollars
Dollars
Dollars
US Dollars
us Dollars
us Dollars
us Dollars
us Dollars
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
1.937.496,21
1.937.496,21
ｾ･ｳｫｯｬｶｮ｡＠
obchodni banka, a.s., Praha as well as
the respective Czechoslovak importers are hereby absolved
from liabilities towards Indonesian exporters and/or banks
arising from the abovementioned export proceeds •
The present letter and your reply will constitute
an integral part of the Agreement referred to above.
shall be grate:tul if you will confirm the correctness
of this understanding.
I
Please accept, Excellency, the assurances of
consideration.
my
Yours sincerely,
Signed
Excellency
Ing. Andrej B a r c a k
Minister of Foreign Trade
of the Czechoslovak Socialist Republic
Chairman of the Czechoslovak Delegation
Pr aha
highest
Chairman
of the Czechoslovak Delegation
Praha,
ｾＳ
Conf(dential
Ｑ ＱＹＷ＠
Excellency,
I have the honour to acknowledge receipt of your letter
of today's date reading as follows:
,;
"Referring to the Agreement between the GovenlIJlent of
the Republic of Indonesia and the Government of the Czechoslovak Socialist Republic on the consolidation of Indonesia' a debt obligations signed on today's date, I have the
honour to confirm the following understanding reached between us.
l.
The Government of the Republic of Indonesia .will avail
itself of the option to defer the pa)'Dlent of Ｕｾ＠
of each
annual instalment of the principal during the years 1970 1975, as provided for in Article 6 of the abovementioned
Agreement.
2.
The proceeds of Indonesia's rubber exports still to be
transferred by Ceskoslovenska obchodni banka, a.s., Praha
to the amount of US Dollars 2.832.391,49 will be settled in
the f ollowi.ng manner:
a) Each year one-eighth of the rubber export proceeds
referred to above will be compensated as partial payment of
the annual instalments of principal due to the Government
of the Czechoslovak Socialist Republic during the years
1970 up to and including 1977.
f
2.
b) Consequently, the Government of the Republic of Indonesia
will pay in cash the balance of the annual instalments of
the principal during the first 8 years according to the
following schedule:
1970
1971
1972
1973
1974
1975
1976
1977
3.
us
us
us
us
us
us
us
us
Dollars
Dollars
Dollars
Dollars
Dollars
Dollars
Dollars
Dollars
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
791.723,64
1.937.496,21
1.937.496,21
ｾ･ｳｫｯｬｶｮ｡＠
obchodni banka, a.s., Praha as well as
the respective Czechoslovak importers are hereby absolved
from liabilities towards Indonesian exporters and/or banks
arising from the abovementioned export proceeds.
The present letter and your reply will constitute
an integral part of the Agreement referred to above.
I shall be grateful if you will confirm the correctness
of this understanding."
In reply I have the honour to confirm the above understanding.
Please accept, Excellency, the assurances of my highest
consideration.
Excellency
H. Adam M a l i k
Minister of Foreign Affairs
of the Republic of Indonesia
Chairman of the Indonesian Delegation
Praha
Signed
GOVERNMENT OF THE CZECHOSLOVAK SOCIALIST REPUBLIC
Whereas an agreement is to be signed which may
represent an outcome of the negotiations concerning
the rearrangement of maturities of Indonesian debts
owed to the Czechoslovak Socialist Republic, the
Government of the Czechoslovak Socialist Republic
have appointed and do hereby appoint
Ing • And re j
B a r
cak
,
Minister of Foreign Trade of the
Czechoslovak Socialist Republic,
as their plenipotentiary and invest him with full powers
to sign the above- said agreement.
Prague, May
f ,
1971.
Signed
Minister of Foreign Affairs