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Debt relief decision postponed

[Sierra Leone] Awareness campaign signboard in the streets of Freetown, Nov 2004. IRIN
Effective prevention efforts are needed
    FREETOWN

    A decision by the IMF and World Bank on whether Zambia has qualified for debt relief under the Highly Indebted Poor Countries (HIPC) scheme has been delayed to next week, Zambian Finance Minister Katele Kalumba said on Wednesday. “The date for the announcement has been put back to Monday. That’s when the boards of the International Monetary Fund and World Bank will now meet on our case,” he said, without giving an explanation for the delay. The decision, originally expected on Wednesday, will now be announced on 27 November, Kalumba said. Zambia has asked for the maximum debt relief of us $2.83 billion it can obtain under the arrangement, saying it faces sharply increased debt service costs in the next five years, Reuters reported.

    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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