Guineans optimistic following Norway debt cancellation / News / The Foreigner

The Foreigner Guineans optimistic following Norway debt cancellation. Individuals and civil society organizations in Guinea have appreciated Norway for cancelling their country's debts. They look forward to possibilities. “I am excited about what Norway has done,” said Guinean teacher Andy Siyu. “I now expect the government to use the money which was meant to pay the debts to improving on schools and hospitals in our country. The Norwegian Government’s action amounts to around NOK 100 million (about to USD 17.2 million).

norwayguineadebt, guineadebtcancellation



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Guineans optimistic following Norway debt cancellation

Published on Tuesday, 19th February, 2013 at 16:10 under the news category, by Godfrey Olukya.

Individuals and civil society organizations in Guinea have appreciated Norway for cancelling their country's debts. They look forward to possibilities.



“I am excited about what Norway has done,” said Guinean teacher Andy Siyu. “I now expect the government to use the money which was meant to pay the debts to improving on schools and hospitals in our country.

The Norwegian Government’s action amounts to around NOK 100 million (about to USD 17.2 million).

Guinea Civil Society official, Mike Omoko said. “What Norway has done is appreciated by all of us in Guinea. We thank that country for being kind to some poor African countries.”

Norway’s move comes after last year’s part-cancellation of NOK 42 million (roughly) USD 7.3 million, based on a multilateral framework agreement concluded in forum for creditor countries the Paris Club in April.

2013’s entire debt cancellation comes under the international Initiative for Heavily Indebted Poor Countries, known as the HIPC Initiative.

“We could have reported this as official development assistance, but we don’t want to inflate our aid budget with a payment that should be additional,” said Minister Holmås in a statement.

"I am glad that we can now cancel the rest. This means that this West African country can now use more of its income on schools and public health services without the heavy burden of debt,” he added.



Published on Tuesday, 19th February, 2013 at 16:10 under the news category, by Godfrey Olukya.

This post has the following tags: norwayguineadebt, guineadebtcancellation.





  
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