abdeka
October 8th, 2010, 10:49 PM
Algeria cancels Congo's FCFA 26b debt ($55 million)
http://www.afriquejet.com/news/africa-news/algeria-cancels-congo%27s-fcfa-26b-debt-2010100757737.html
http://www.iisd.ca/africa/water/amcow/images/29may/P1050984-tn.jpg
Brazzaville, Congo - The Algerian government has cancelled the entire debt owed it by Congo, estimated at FCFA 26 billion ($55 million), a source close to the Congolese Ministry for Foreign Affairs and Cooperation said here Thursday. The document formalising the cancellation was signed Wednesday in Brazzaville by the Congolese Minister of Foreign Affairs and Cooperation, Basil Ikouebe, and Ambassador of Algeria in Congo, Ahmed Abdessadok.
The Algerian diplomat said the cancellation was in support of the development efforts undertaken by the Congolese government.
'It is a gesture that Algeria has made to facilitate all actions taken by Congolese public authorities vis-a-vis financial international institutions in a bid to obtain the cancellation of the country's external debt,' Abdessadok said.
'This symbolic and sincere gesture is part of the commitment of both Heads of State to further strengthen their cooperation, and a reflection of the historical brotherly ties (between them),' the Ambassador said.
He said the cancellation was done at the 'special' initiative of Algerian President Abdelaziz Bouteflika.
On his part, Mr. Ikouebe reassured the Algerian diplomat that the funds saved from the cancellation would be used judiciously, especially 'to modernize and industrialise our country (and) also to fight against poverty.'
Brazzaville - Pana 07/10/2010
http://www.afriquejet.com/news/africa-news/algeria-cancels-congo%27s-fcfa-26b-debt-2010100757737.html
http://www.iisd.ca/africa/water/amcow/images/29may/P1050984-tn.jpg
Brazzaville, Congo - The Algerian government has cancelled the entire debt owed it by Congo, estimated at FCFA 26 billion ($55 million), a source close to the Congolese Ministry for Foreign Affairs and Cooperation said here Thursday. The document formalising the cancellation was signed Wednesday in Brazzaville by the Congolese Minister of Foreign Affairs and Cooperation, Basil Ikouebe, and Ambassador of Algeria in Congo, Ahmed Abdessadok.
The Algerian diplomat said the cancellation was in support of the development efforts undertaken by the Congolese government.
'It is a gesture that Algeria has made to facilitate all actions taken by Congolese public authorities vis-a-vis financial international institutions in a bid to obtain the cancellation of the country's external debt,' Abdessadok said.
'This symbolic and sincere gesture is part of the commitment of both Heads of State to further strengthen their cooperation, and a reflection of the historical brotherly ties (between them),' the Ambassador said.
He said the cancellation was done at the 'special' initiative of Algerian President Abdelaziz Bouteflika.
On his part, Mr. Ikouebe reassured the Algerian diplomat that the funds saved from the cancellation would be used judiciously, especially 'to modernize and industrialise our country (and) also to fight against poverty.'
Brazzaville - Pana 07/10/2010