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Paris Club lenders cancel Burundi debt

Paris Club lenders cancel Burundi debt

The Paris Club of creditor nations has canceled US$134.3 million of debt owed to its members by the east African nation of Burundi, the group said Wednesday.
The group said the cancellation represents 100 percent of the debt owed to its members by Burundi, a landlocked republic of 8.7 million people located between Tanzania and the Democratic Republic of the Congo.
"The Paris Club creditors welcomed the Republic of Burundi's determination to implement a comprehensive poverty reduction strategy and an ambitious economic program," it said in a statement.
The Paris Club is an informal group of creditor governments from major industrialized countries that negotiates debt restructuring with debtor countries.


Updated : 2021-06-21 05:54 GMT+08:00