REPORT FROM THE COMMISSION TO THE ACP-EC COMMITTEE OF AMBASSADORS on the processing in 1999 of all transfers under the export earnings stabilisation system set up by the Fourth ACP-EC Convention revised by the Agreement signed in Mauritius on 4 November 1995

STABEX (1999 year of application)

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

Article 207(4) of the revised Fourth ACP-EC Convention states that:

"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 in 1999.

For the 1999 year of application 21 ACP States were eligible for 29 transfers under the Stabex arrangements introduced by the revised Fourth ACP-EC Convention.

After consultations under Articles 202 and 203 of the Convention the total amount of eligible transfers is EUR 235 453 535.

Financial resources at the end of June 2000 for the 1999 year of application were as follows:

// EUR

Annual allocation for the 1999 year of application // 360 000 000

Carryover from the 1995 to the 1999 year of application // 271 251 306

Carryover from the 1996 to the 1999 year of application // 286 415 194

Carryover from the 1997 to the 1999 year of application // 306 717 101

Carryover from the 1998 to the 1999 year of application // 285 271 772

Estimated interest at 30 June 2000 // 66 019 805

Total: // 1 575 675 178

This amount covers all transfers for the 1999 year of application. A list of individual transfers adopted by the Commission at 24 July 2000 is attached.

Since consultations are still being held with some ACP States transfers may be adopted at a later date.

By Decision 1/2000 of 27 July 2000 regarding transitional measures valid from 2 August 2000 to the entry into force of the ACP-EC Partnership Agreement [1] the ACP-EC Council of Ministers extended provisions of the Fourth ACP-EC Convention as revised by the Agreement signed in Mauritius on 4 November 1995 for Stabex up to 31 December 2000. In the light of this decision the ACP-EC Committee of Ambassadors decided on 26 September 2000:

[1] OJ L 195, 1 August 2000, p. 46.

-to set up a reserve to finance before 31 December 2000 Stabex transfer decisions for the 1998 and 1999 years of application (EUR 168 million) and to repay the balances under the second Financial Protocol (EUR 72 million under Article 195a of the Convention);

-to gradually transfer the allocation balance from Stabex of over EUR 1.1 billion to the special EDF account to finance programming activities.

ANNEX - STABEX - application year 1999

>TABLE POSITION>