King Salman undergoes routine medical checkup in Jeddah    Saudi Shoura Council assistant speaker meets US Congress advisors    Abuthnain: Saudi Arabia achieves 77% reconciliation in labor disputes    IMF opens first regional office in Riyadh Al-Ibrahim: Saudi Arabia confirms commitment to diversifying its economy    Deputy tourism minister: Government fees in hospitality sector down 22% in 2024    EU raids offices of Chinese security equipment maker in subsidy probe    War in Ukraine: US to send new aid right away, Biden says    Tents appear in Gaza as Israel prepares Rafah offensive    Columbia's anti-war protesters dig in despite mass arrests and disciplinary action    Saudi Arabia slams Israel's heinous war crimes in Gaza    Belgian man whose body produces alcohol in rare condition acquitted of drunk driving    Al Hilal's comeback effort falls short in AFC Champions League semi-finals    Australian police launch manhunt for Home and Away star Orpheus Pledger    Cabinet approves opening UBS AG Bank of Switzerland branches in Saudi Arabia    Driving innovation and sustainability: An interview with Mohammed Salem AL Ojaimi, Chairman of AL Ojaimi Industrial Group    Spice Girls reunite at Posh's 50th birthday    Swedish rider Eckermann wins 2024 Show Jumping World Cup in Riyadh    Aspiring fencer Josh Brayden aims for Olympic glory    Revenues touch SR3.7 billion in Saudi cinema sector since 2018    Beijing half marathon: Top three stripped of medals after investigation    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



IMF, World Bank approve more debt relief for Congo
Published in Saudi Press Agency on 28 - 01 - 2010

The International Monetary Fund and the World Bank have agreed to support $1.9 billion in debt relief for Congo, which includes $225.2 million in relief from the two Washington-based institutions, according to AP.
The IMF and the bank said the Kinshasa government has fully implemented measures related to macroeconomic stability, public financial management, oil sector management, combating corruption and improving health and education programs.
«We are very pleased that the boards of the bank and the fund have approved full debt relief for the Republic of Congo,» said Marie-Francoise Marie-Nelly, the bank's director for Congo. «This is a recognition of the remarkable progress made by the Congolese authorities in undertaking major and difficult reforms.»
She said Congo was emerging from conflict and continues toward economic and social recovery.
Robert York, the IMF's mission chief for Congo, said the government is «determined to lay a firm foundation for enhancing growth and reducing poverty, which is very encouraging.»
Congo has been mired in conflict since Rwanda's 1994 genocide spilled war across the border and ethnic Rwandan Hutu militias sought refuge in Congo. Rwanda has invaded twice to eradicate the militias, toppling dictator Mobutu Sese Seko in the process. Fighting from 1998-2002 drew in half a dozen African armies and split the vast nation into rival fiefdoms.


Clic here to read the story from its source.