France to write off debt of HIPC countries

The French government is to cancel all Official Development Aid (ODA) debts for eligible Heavily Indebted Poor Countries (HIPC) as soon as they reach decision point, the French Ambassador, Mr Michel-Jean Berrit announced on Thursday.
Speaking at a meeting with Mr Hackman Owusu-Agyemang, Foreign Minister to discuss France-Ghana cooperation, Mr Berrit said a further 500 million Euro of Paris Club commercial debts would be cancelled earlier than scheduled.
Nineteen countries, including 15 from Africa, which have reached decision point, would benefit from the cancellation.
"It is in line with the spirit of the HIPC initiative, which is to give priority to reducing poverty," the Ambassador said.
The HIPC initiative was launched at the proposal of France at the G7 summit in Lyon in 1996. She has since then pushed for more concessions, speed and flexibility.
Mr Berrit called for enhanced relationship between the two countries, especially in the field of politics.
He commended Ghana's electoral success and said it further demonstrated commitment to democracy.
Mr Owusu-Agyemang praised France's new policy of closer ties with English-speaking African countries, stressing that the two blocs, Anglophone and Francophone, cannot afford to be left behind in the era of globalisation.
He said African countries could no longer afford to remain divided by allegiance to various economic blocs.
It is in this direction, Mr Owusu-Agyemang said, that the Millennium Africa Programme (MAP) mooted to kick-start the economic recovery of the continent needs the support of both rich and poor countries to make it succeed.
He said what is important now is how to marry the MAP to the Omega Plan proposed by President Abdoulaye Wade.
He thanked France for all past assistance to Ghana.
Ghana has in recent years benefited from an average of 35 million dollars annually in bilateral aid and French contributions to multilateral aid.
The total included a 20 million-dollar debt cancellation in 1989.

The French government is to cancel all Official Development Aid (ODA) debts for eligible Heavily Indebted Poor Countries (HIPC) as soon as they reach decision point, the French Ambassador, Mr Michel-Jean Berrit announced on Thursday.
Speaking at a meeting with Mr Hackman Owusu-Agyemang, Foreign Minister to discuss France-Ghana cooperation, Mr Berrit said a further 500 million Euro of Paris Club commercial debts would be cancelled earlier than scheduled.
Nineteen countries, including 15 from Africa, which have reached decision point, would benefit from the cancellation.
"It is in line with the spirit of the HIPC initiative, which is to give priority to reducing poverty," the Ambassador said.
The HIPC initiative was launched at the proposal of France at the G7 summit in Lyon in 1996. She has since then pushed for more concessions, speed and flexibility.
Mr Berrit called for enhanced relationship between the two countries, especially in the field of politics.
He commended Ghana's electoral success and said it further demonstrated commitment to democracy.
Mr Owusu-Agyemang praised France's new policy of closer ties with English-speaking African countries, stressing that the two blocs, Anglophone and Francophone, cannot afford to be left behind in the era of globalisation.
He said African countries could no longer afford to remain divided by allegiance to various economic blocs.
It is in this direction, Mr Owusu-Agyemang said, that the Millennium Africa Programme (MAP) mooted to kick-start the economic recovery of the continent needs the support of both rich and poor countries to make it succeed.
He said what is important now is how to marry the MAP to the Omega Plan proposed by President Abdoulaye Wade.
He thanked France for all past assistance to Ghana.
Ghana has in recent years benefited from an average of 35 million dollars annually in bilateral aid and French contributions to multilateral aid.
The total included a 20 million-dollar debt cancellation in 1989.