World Bank and IMF grant debt relief to Uganda
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The International Monetary Fund and the World Bank have approved a debt relief package for Uganda worth six-hundred-and-fifty-million dollars. In a joint statement, the two organisations commended Uganda’s economic management and policy reforms and explained that their action was part of an international initiative to help heavily indebted poor countries. The move has been welcomed by the American Treasury Secretary, Robert Rubin, who said the initiative wouldsupport sustainable growth and further economic reform. The IMF and the World Bank earlier this week approved a debt relief package for Mozambique worth nearly three billion dollars. Source : news.bbc.co.uk |