Germany forgives Liberia debt of 230 million US dollars

0 Comments | AFP, February, 2007

WASHINGTON (AFP) — Germany announced it would forgive Liberia's entire 230 million dollars in debt to Berlin.

"Germany announces that it would forgive 100 percent of the bilateral debts owned in the context of the HIPC (Heavily Indebted Poor Countries) process," said the final statement of a conference of Liberia's donors in Washington.

The HIPC initiative offers debt relief to governments that agree to meet International Monetary Fund conditions and to implement economic reforms.

Germany's announcement came one day after Washington said it would erase the war-ravaged West African country's 391-million-dollar debt.

The two-day conference's final statement also said the US government would request 35 million dollars from Congress to help Liberia with...