South Africa: Country to Help Clear Liberia's Debt

8 March 2007
allAfrica.com

Cape Town — South Africa is to contribute US$3,6 million towards clearing Liberia's debts to the African Development Bank (ADB).

This was announced by the South African cabinet today in a statement issued after its regular weekly meeting.

The statement noted that since the election of President Ellen Johnson Sirleaf, the Liberian economy "has shown signs of recovery, with real GDP growth of 5,3 % in 2005 and a projected growth of 7,7% in 2006/7."

South Africa's contribution, made at the request of the ADB, would constitute 6,25 % of the amount requested from bilateral donors, the cabinet said.

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