The Republic had little public external debt prior to 1975 and, with one minor exception, has been current on its debt service, including during the 1975-1990 period of conflict.  The only instance of arrears was in respect of a debt to the United States Commodity Credit Corporation, which financed a sale on concessional terms in 1970.  The loan fell into arrears in April 1986 as the Ministry of Finance, which coordinates external debt service, was then unaware of its existence due to loss of records during the conflict period.  The loan was not accelerated.  The Ministry of Finance assumed responsibility for the debt and the arrears (amounting to U.S. $5.5 million in principal and accrued interest and U.S. $713,000 in late interest) were cleared in 1995.

The Republic has never conducted a Paris Club or London Club rescheduling of its external debt.