This consensus implies, in particular, that private creditors should be treated in a manner that is comparable to bilateral official creditors (Paris Club) and that, among the group of private creditors and investors, no category of lenders should be considered inherently privileged. Furthermore, the framework rightly insists on PSI relying as much as possible on voluntary solutions.
The guidelines recently established by the Interministerial Committee for Credit and Savings in conformity with the indications of the law on savings establish a very stringent discipline, in view of both the broad definition of related parties and the quantitative limits set on risk assets. The amendments provided for in the draft decree will require the Committee to reexamine the matter.