Times Reporter
5 February 2004
THE United States government has pledged to write-off $500 million of Zambia's debt once it attains the Highly Indebted Poor Countries (HIPC) completion point.
American ambassador to Zambia Martin Brennan said he was happy with the plans that the Government had put in place to attain the HIPC completion by December this year.
Mr Brennan was speaking in an interview in Lusaka yesterday.
Mr Brennan said his government recognised the sacrifices that the Zambian people were making and that it was important that the people benefited by coming up with developmental programmes.
"We are willing to write off the US$500 million debt upon your attaining the HIPC completion point and it is our wish that this development does not fail, "he said.
Recently, President Mwanawasa said Government was determined to reach the HIPC completion point to gain some debt relief this year without fail.
Zambia missed the completion point last December which would have reduced the current external debt stock of over US$6 billion by half.
Meanwhile, Mr Brennan said he hoped to see a realistic Budget that would benefit every Zambian.
He further pledged continued support in different sectors of the society.
And Zambia's ambassador extra-ordinary and plenipotentiary to Japan Godfrey Simasiku has presented his credentials to the Filipino President Gloria Macapagal-Arroyo.
Mr Simasiku said Zambia had abundant opportunities for investment in various sectors, such as mining, agriculture and tourism to reduce dependency on copper.
According to a dispatch from Japan, President Arroyo expressed happiness at the good relationship that exists between Zambia and Philippines and pledged to work closely with the ambassador.
She said that there was potential for broadening and strengthening the relationship for the common good of the two nations.
She also recommended that the proposed Zambia trade and investment mission to the Philippines that was rescheduled to take place last year be revived.
Be the first to Write a Comment!
Copyright © 2004 The Times of Zambia. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
