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MEMORANDUM OF AGREEMENT BETWEEN
THE GOVERNMENT OF THE REPUBLIC OF INDONESIA AND
THE GOVERNMENT OF THE UNITED STATES OF AMERICA
REGARDING THE RESCHEDULING OF PAYMENTS UNDER
THE SURPLUS PROPERTY AGREEMENT OF MAY 28 , 1947
1.
Reference is made to the "Agreement between the
Government of the United States of America and the Government of
the Netherlands Indies Regarding a Line of Credit for the Purchase
of United States Surplus Property" signed May 28, 1947, and to the
release of the Netherlands Government from its guaranty thereunder
and the assumption by the Government of the Republic of Indonesia
of the debt under such Agreement.
Such assumption was effected by
the exchange of a joint note signed by the Netherlands and
Indonesian Ministers of Foreign Affairs on September 17 and
October 15, 1952, respectively, to the Secretary of State of the
United States and the notes responding thereto of the Secretary
of State to the Netherlands Ambassador and to the Indonesian
Ambassador both signed April 8 , 1953 .
Reference is also made to
understa ndings reached in Paris December 19-20, 1966 and in
Amsterdam February 22-24, 1967 between representatives of the
Governments of the Republic of Indonesia and the United States of
America and among representatives
0£
other creditor governments
2.
In accordance with such understandings and pursuant to
section 2D of the Agreement of May
28, 1947
referred to above,
it is agree'd that the payment obligations provided thereunder be
1modified as follows:
11
(a)
installments due and payable on July
1, 1965, 1966
and
11
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II
1967,
respectively, amounting to
$6,251,006.37
i n principal
and to
$2,000,322.03
in interest be consolidated, mak ing a
total of
$8,251,328. 40
(hereinafter, the "Consol idated
Amount");
(b) Consolidation Interest shall accrue on the Con solida t ed
Amount at the rate of 3 percent per annum during the period
January
1, 1968
through December
31 , 1970,
shall not be
subject to being compounded and shall be deferred and become
1payable in the years
1971-1978
in accordance with the schedule
of subparagraph 2(c);
I
(c)
the Consolidated Amount of
$8,251,328 .40
and
Consolidation Interest to be accrued in
1968-1970
aggregating
$742, 619.56
shall each be payable in increments on July
1
in
the years
1971-197 8
as follows:
5
percent i n
1971; 10
percent
each in
1972, 1973
and
1974; 15
percent each in
1975, 1976
and
1977;
and
20
percent in
197 8;
(d)
in addition to the amounts payable under subparagraph 2(c1
Consolidation Interest shall accrue at the rate of 3 percent
I
per annum and shall be payable on July
1, 1971
and each July
1
thereafter on the outstanding balance of the Co n solidated
1Amount;
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(e)
for periods of less than a year, interest is computed
on a 365-day-year) number-of-days' basis.
3.
Annex A hereto sets forth a Revised Schedule of Payments
including those specified in paragraph 2 of this Agreement and the
remaining contractual payments due in accordance with the Agreement
of May 28 , 1947 which are not otherwise modified by this Agreement.
4.
Annex B hereto sets forth the computation of the
Consolidated Amount.
DONE at Djakarta, in duplicate,
ｴｨｩｳｾ＠
ｦＩｾｬＹＶＷＮ＠
FOR THE GOVERNMENT OF THE REPUBLIC OF INDONE SIA:
Signed
FOR THE GOVERNMENT OF THE UNITED STATES OF AMERICA:
Signed
day of
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:
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Due Dates
July 1, 1968
July l, 1969
July 1, 1970
July 1, 1971
July 1, 1972
July 1, 1973
July 1, 1974
July l, 1975
July 1, 1976
July 1, 1977
July 1, 1978
July 1, 1979
July 1, 1980
Total s
ｓｵｲｰｬｵｾ＠ Pi"op('.tty 11.gceement (May · 2:s_; 1947)
Revised Sch•.,dulE -of Paym.,nts (as of Janu2ry 1, j.968)
Payment o.f "Consolidated Amount" '15 of Dec. 31, 1967
_ _ _ _ _ _ ｟｟［｡Ｚ［［［ｮＺＮｯＮ､ＺＰＭｾｅＮＮｌＮＨＩＮｦ＠ "Consolidation Interest"
Orig inal Contcactual Payments Schedule
1 2 3 4;
Payment of "Consolidated
Amount" of
Principal, and Interest (e)
$ 412,566.42
825,132.84
825 ,132.84
825,132.84
1,.237 ,699 .26
1,237,699,26
'
,
1,237,699 .261,650,265.68
$8 ,251 ,328.40
Payment of "Consolidation
Interest" Accrw<l
@ 3% p • a.
(t"-1968-1!}
70 )$ 37,130.98
74,261.96
74,261.96
74, 261 .96
111,392.93
111,392. 93
.
111,392 .53
148 ,523. 91
$742 , 619 .56 $
Payment of "Con-solidation Intere:st"
at
3%
p.a. ofBal-ance of "Co n
soli-dated Amount" {l!j
per Column ｴＨ｣Ｉｾ､Ｉ＠
Total Payn;ent s
Due (1+2+3)
J.47,'i39 . S5 $ 697 ,237.25
235 ,162,86 ) 1,134,5 57.66
210,408.87 1,1 09 , 803.67
185,654.89 1,085,049,69
160,900.90 1,509 .993.09
123,769.93 l,"72,862.12
86,638.95 1, 435,731 .
l"-49,507.97 1,848 , 297.56
$1 ,299' 584. 22
ｾｾｾ＠
(from Jan. l, 1968 to fina l ｭ｡ｴｵｬＧＮＢｩｾｹ｀＠ 2., Jn .::cest per annun:)
5 6 7
Totals
ｐｬＧＮＢｩｮ｣｣ｾ＠
---
rnterc,s t (d) (5+6 )s
2,083,668.79 $ 541,753.89$
2,625,422.682,083 , 668.79 500,080.51 2,583,749.30
2,083,66S.79 458,!;07 .14 2, 542, 075 .93
ｾＭ
ＲＬ ＰｾＳ ＬＶＶＶＮ ＸＰ＠ 416,733.76 -r 2,500,402.56
2, 083 ,1>68 .eO 375,060,38 2,458,729.18
2,08J, 06JJ.eo 333,387.0l 2,417, 055,81
2,08?1068.80 29l,7 l3.63 2 ,375,382.43
'i. \
· 2,os4,068;so 250,04o".26 2,333,709.06
2,083,66 8.BO ＲＰｩＺｳＬＳＶＶＮｓｾ＠ 2, 292. 03 5.68
2,083,668,'!0 166,693.50 2,250,362.30
2 , 083 , 668.79 125,020.12 2,208,658.92
2 , 083,668.79 83 , 346. 75 2,167,015.54
2 , 0832668.79 41 , 673 .37 211 251342.16
$27 ｊｌｃ＾ﾧｚ｟Ｌｾ｟ＧＮＫ ｟ Ｎ｟｟ｾ＠ g_,792,277_,_!!_ ＤＳＰＬＸＷｾＬＹＷＱＮＵＵ＠
ANNEX A
8
Gr and Totals (4+7)
$
2,625,422.682,583,749.30
2,542,075.93
ＳＬＱＹＷ Ｌ ＶＳＹＮｾｬ＠
3,593,286 . 84
3,526. ｾＵＹＮＴＸ＠
3,460,432.12
3,843,702.15
3, 764, 897
.so
3,686, 093 , 44
4, 056,986,48
2 ,16 7,015.54
ＲＬＱＲＵＬＳ ＴＲ ＮＱｾ＠
5111,173' )03.13
(a) Column 1: Represents payments in l;lCTears on ､ｵｾ＠ date of 7/1/65 totaling $2,083 ,6 68.79 principal and $666,774.rll int.21'."esl , 'nu pay-1ents ·iue in the consol idation
period on 7/1/66 <:\nd 7/1/67 totaling $4,167,337053 on pcincipal and $1, 333 , 548.02 ｩｾＮｴ･ｲ･ｳｴＮ＠ Totals equal ;6,251 , 006 .17 prlncipaJ.,and $2,::l00,322.03 interest, or
$81251,328,40 "Consolidated Amount0 "
(l>) Column 2: Represe nts "Consolidation lnte rest" of 3 percent per annum of $8,251.328.40 "Co:isoli.Jsted Amount" accl'."CJed in caleadal'." year3 19-58-1970. The aggregate
acci:ual of $742,619.56 is due in annual payments of 5 percent in 1971 ; 10 percent each in 1972-1974; 15 percent e ach in 1975-1977; .!l rJ 20 perc«nt in 1978.
(c) Co lumn 3: Represents " Cons,..lidation Intel'."esl" of 3 percent per annum payable annual!y in 1971-1-378 ｢ｾｳ･､＠ on the ｯｵ ｾｳｾ｡ｮｲｬｩ＼ﾥＬ＠ balance of the " Consolinated !\mount"
declining in accordance with Column 10
ANNEX B
Surplus Property Credit Agreement - Consolidated Amo unt
-
-/
-(contractually due for Consolidation
Date
July 1, 1965
Total arrears 6/30/66
July 1, 1966
July 1, 1967
Total Consolidation Period
7/1/66-12/31/67
Totals
Principal Due
$2,083,668.79
$2,083,668 .79
$2,083,668.7 9
2,083,668.79
$4,167,337.58
$6,251,006.37
Interest Due
$666, 774. 01
$666, 774. 01
$666 , 774.01
666, 774.01
$1,333,548 .02
$2,000,322.03
