Subscriptions Central AfricaEast AfricaHorn of AfricaIndian OceanNorth AfricaSouthern AfricaWest AfricaAfrica / World Agriculture - NutritionCulture - ArtsEconomy - DevelopmentEnvironment - NatureGay - LesbianGender - WomenHealthHuman rightsLabourMediaPoliticsScience - EducationSocietyTechnologyTravel - Leisure From Behind By Country By Topic Chronological Press Releases Partner Media Contact Us
   
  

See also:
» 16.05.2008 - Japan to double aid to Africa
» 16.05.2008 - AfDB, African countries sign financing deals
» 14.05.2008 - Africa's economic activitiy rises
» 14.05.2008 - 580m Africans without power
» 13.05.2008 - Africa fastest growing market in communication technology
» 02.05.2008 - Equatorial Guinean leader tops Africa's media predators

Africa
Politics | Economy - Development | Human rights

“Avoid too many loans“

afrol News, 2 November - The post-Heavily Indebted Poor Countries (HIPCs) have been asked to shy away from accessing too many non-concessionary loans from development partners so as to avoid a return to their former status.

A Senior Economist at the State Secretariat of Economic Affairs in Switzerland, Dr Nicola Guigas, advised post-HIPCs to avoid the temptation of accessing more loans after benefiting from debt relief.

Dr Guigas, who addressed the 19th steering committee meeting on capacity building for HIPCs in the Ghanaian capital Accra, said too many loans, especially non-concessionary ones, were difficult to manage for the right investment, which would also make it difficult to be paid back.

“Poor countries should be prudent in the management of non-concessionary loans,“ Dr Guigas said. “Non-concessionary loans are given to sovereign states with commercial interest as opposed to concessionary loans which do not attract interest.”

The meeting has brought together economic experts from HIPCs and post-HIPCs, donor countries and development agencies, to help build the capacity of HIPCs in the management of the benefits of the HIPC initiative for economic progress.

It also aims at developing strategies for prudent financial management for poor countries.

The HIPC initiative is an international response to the burdensome external debt owed by the world’s poorest and most indebted countries originating in 1996 as a joint undertaking of the World Bank and the International Monetary Fund.

Participants were drawn from Ghana, Tanzania, Guinea-Bissau, Burkina Faso, Cameroon, Ethiopia, Paraguay, Guyana, Nicaragua, Ireland, Sweden, Switzerland and Canada.


    E-mail this to a friend     Printable version

Related pages and feature
Current afrol News Top Stories
Africa
Politics
Economy - Development
Human rights
Affairs
Affairs
Cooperation
Debt
Economy
Poverty
Socio-economic
» Japan to double aid to Africa
» Nigeria oil blast kills 100
» Algeria opens up on terrorism attacks
» New airline storms Gambia
» Lesotho media consider acting against govt
» Senegal journalists' conviction condemned
» AfDB, African countries sign financing deals
» "Tourism in Namibia set to soar"
» Sahrawi refugee children in dire need of food
» SA produces record diamond


top of page about afrol News | news | countries | archive | services | feed back | español 

© afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com