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IMF, World Bank clear Liberia for debt relief
The IMF and World Bank on Tuesday cleared Liberia's entry into a global debt
relief program, a vital step toward canceling the country's $4.7 billion debts
and helping it rebuild from civil war.
March 19, 2008
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Liberia slowly edging towards
debt cancellation
"Liberia, one of the poorest countries in the world, has debts of more than
3.5 billion dollars. It is now edging towards debt cancellation, with some
support from rich countries: but Liberia's debts, which are anyway of dubious
legitimacy, need to be cancelled now."
Januari 12, 2007
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EU Needs to Cancel Liberia’s
Illegitimate Debt and Pledge New Money
“Liberia’s indebtedness deserves the understanding of both Liberians and the
international community. We are faced with a total inability to service our
debts”.
November 14, 2006
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Experts Available to
Discuss Liberia's Crippling Debt During President's U.S. Visit
"Creditors are currently insisting that Liberia pay $1.5 billion in back payments
and accumulated interest before it can become eligible for any debt relief or
cancellation. This in a country whose government operates with an annual budget
of just $80 million."
October 17, 2006
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Liberia needs urgent debt cancellation and aid
"African and European CSOs launch call for immediate and unconditional debt
cancellation for Liberia.
The Center for Democratic
Empowerment (Liberia) and AFRODAD, supported by civil society organisations in
West Africa and EURODAD, have launched joint efforts to call for immediate and
unconditional debt cancellation for post-war Liberia, coupled with increased
levels of donor assistance. The call was made at a three day dialogue on
“Post-Conflict Liberian Debt, Aid and Development” in Monrovia."
September 21, 2006
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The Multilateral Debt Relief
Initiative (MDRI)
The Multilateral Debt Relief Initiative (MDRI) provides for 100 percent relief
on eligible debt from three multilateral institutions to a group of low-income
countries. The initiative is intended to help them advance toward the United
Nations' Millennium Development Goals (MDGs), which are focused on halving
poverty by 2015.
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Debt Relief Under the Heavily
Indebted Poor Countries (HIPC) Initiative
The HIPC Initiative is a comprehensive approach to debt reduction for
heavily indebted poor countries pursuing IMF- and World Bank-supported
adjustment and reform programs. To date, debt reduction packages have been
approved for 29 countries, 25 of them in Africa, providing US$35 billion (net
present value terms as of the decision point) in debt-service relief over time.
Eleven additional countries are potentially eligible for HIPC Initiative
assistance and may wish to avail themselves of this debt relief.
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