Belgium cancels Congo debt worth 3.7 million euros

20th December 2010, Comments 1 comment

Belgium decided to cancel all debts owed by Republic of Congo, worth about 3.7 million euros, as part of international efforts to assist the impoverished country, the finance ministry said Monday.

Belgium waved the debts in line with agreements of the Paris Club of 19 industrialised nations, the ministry said.

Last week Germany agreed to cancel 71 million euros of debt, while France, the US, Switzerland and Italy have all made similar arrangements this year.

The agreement was signed Friday in Brazzaville by Congolese Finance Minister Gilbert Ondongo and Belgian envoy Herman Merckx.

© 2010 AFP

1 Comment To This Article

  • Jim Steele posted:

    on 21st December 2010, 11:37:08 - Reply

    Worked just fine when it was the Belgian Congo!