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USA cancels US $1 million in debt service

    ABIDJAN
    The United States cancelled on Tuesday US $1 million which Senegal owed to it to allow Dakar to redirect the money towards its economic growth programme, the US Embassy in Dakar said. The money represents Senegal’s debt service obligations to the US, the Embassy said in a communique. The move is in line with the Highly Indebted Poor Countries (HIPC) initiative, which urges creditors to write off at least 90 percent of poor nations’ debt service for loans allocated before 1 January 1983.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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