Japan reschedules Cameroon, Cote d’Ivoire debt

Japan has rescheduled the payment of Cameroon and Cote d’Ivoire’s debts of some 3.28 billion yen (US $27.60 million), the Japanese news agency, Kyodo, reported at the weekend quoting a Japanese Foreign Ministry statement. Cameroon will have until September 2011 to begin repaying some 604 million yen in 36 six-month installments. Cote d’Ivoire has until the April 2016 to repay 2.68 billion yen (US $22.52 million), in 48 half-yearly installments. The loans carry an annual interest of 1.8 percent. The Ministry said the rescheduled payments fell in line with guidelines agreed by creditor nations at their 1997 and 1998 meetings on heavily indebted countries.