Bolivia said Friday, that Japan has agreed to cancel 63 million US dollar (390 mio. DKR) in debt as the impoverished South American country seeks to reduce its heavy debt burden.
It is the countrys second confirmed debt cancellation since leftist Evo Morales was elected president on Dec. 18. Just three days after his election, the International Monetary Fund said it was forgiving 232,2 million dollar in debt.
That was written off in accordance with a decision by the Group of Eight richest countries to cancel the debts of 18 of the worlds most heavily-indebted countries to the World Bank and the IMF, including Bolivia.
Bolivias central bank said the cancellation of the countrys 1,6 billion US dollar debt with the World Bank would be carried out later this year.
Kilde: www.worldbank.org
