Germany cancels debt

20/06/2011
Germany cancels debt

After France, Switzerland, Japan and Italy, it was Germany's turn to clear Togo's debt, that is 19.2 million euros.

The protocol would be signed on Monday afternoon between Adji Othéh Ayassor, the Minister of Economy and Finance and Alexander Beckman, the German Ambassador in Lomé.

This cancellation comes after the achievement by Togo, the completion point under the HIPC initiative in late 2010, and the decision of the Paris Club creditors.

Instead of being forced to repay some debt and its interests, the country will use these funds for investments in priority sectors identified in the Poverty Reduction Strategy Document (PRSP).

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IL NE FALLAIT PAS MANQUER

Ca fait mal !

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