51999DC0696

COMMISSION REPORT TO THE ACP-EC COMMITTEE OF AMBASSADORS for the 1998 year of application on progress in processing transfers under the export earnings stabilisation system set up by the fourth ACP-EC Convention as revised by the Agreement signed in Mauritius on 4 November 1995

COMMISSION REPORT TO THE ACP-EC COMMITTEE OF AMBASSADORS

for the 1998 year of application on progress in processing transfers under the export earnings stabilisation system set up by the fourth ACP-EC Convention as revised by the Agreement signed in Mauritius on 4 November 1995

Stabex, application year 1998

Report by the Commission pursuant to Article 207(4) of the revised fourth ACP-EC Convention.

Article 207(4) of the revised Lomé IV Convention states:

"On 30 September ... the Commission shall report to the Committee of Ambassadors on the progress made with the processing of all transfers."

This report covers transfers for the 1998 year of application.

The Commission found 13 ACP States to be eligible for 18 transfers under the export earnings stabilisation system set up by the revised fourth ACP-EC Convention.

Following consultations under Articles 202 and 203 of the Convention, as appropriate, the total of eligible transfers is EUR 74 728 228.

For the 1998 year of application the position regarding the financial resources available under the system is as follows:

// EUR

- tranche annual for the 1998 year of application // 360.000.000

- balance for 1995 to be carried over to 1998 // 271.251.306

- balance for 1996 to be carried over to 1998 // 286.415.194

- balance for 1997 to be carried over to 1998 // 295.207.178

- estimated interest up to 30 June 1999 // 33.729.441

Total // 1.246.603.119

This means that all eligible transfers for 1998 can be covered.

The list of individual transfers decided by the Commission on 26 July 1999 is annexed to this report.

Consultations, mainly to do with statistics, are still under way with three ACP States (Mauritania, Sudan and Tanzania) and so any transfers for these countries will be decided at a later date. But whatever the case, the amount in transfers is much less than the resources available after deduction of the total concerned by this decision.

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