Mozambique wins further debt relief
|
|
The IMF and World Bank have agreed to give Mozambique $600m in special relief to ease its debt servicing burden. The country had taken the required steps to complete a program under the so-called enhanced Heavily Indebted Poor Countries Initiative (HIPC). Debt relief is now the equivalent of 6% of our exports against 24% previously The programme was drawn up to ease the debt burden of the world’s poorest countries. As a result of assistance and bilateral debt relief already committed, Mozambique’s total external debt has been reduced by 73%. Additional bilateral relief could raise that figure. More : news.bbc.co.uk |