The Paris Club of creditor nations has agreed to write off or reschedule almost half of the 6,9 billion US dollar debt owed to it by DR Congo.
Of 3 billion dollar covered by Thursdays agreement, 1,3 billion will be cancelled and almost 1,7 billion rescheduled (omlagt), while debt service payments have been deferred until after July 1, 2012.
Paris Club creditors said they would be ready to give further relief once DR Congo reaches completion point under the Highly Indebted Poor Countries (HIPC) initiative.
The measures are expected to reduce by 97 percent the debt service due by the DR Congo to Paris Club creditors from July 1, 2009, to June 30, 2012, the Paris Club said in a statement.
The agreement was made following the approval by the International Monetary Fund of a three-year arrangement under the Extended Credit Facility reached on December 11, 2009.
Kilde: www.worldbank.org
