SIERRA LEONE SIGNS DEBT RELIEF AGREEMENT

UNCLAS FREETOWN 000367 SIPDIS SIPDIS DEPT FOR AF/W, EEB/IFD/OMA (DFREUDENWALD) E.O. 12958: N/A TAGS: PREL PGOV KTIA EFIN SL SUBJECT: SIERRA LEONE SIGNS DEBT RELIEF AGREEMENT REF: SECSTATE 73524 On June 7, the Ambassador and Minister of Finance John Benjamin signed a bilateral debt relief agreement to cancel 100 percent of Sierra Leone's eligible debt to the USG totaling nearly USD 58.3 million. In short remarks, Benjamin thanked the Ambassador for the USG's commitment to help highly indebted poor countries fight poverty. He said the GOSL has over the last three months concluded similar agreements with the Governments of Austria, Belgium, France, Germany, Italy, and Norway and was in the process of finalizing debt relief agreements with Japan, the Netherlands and the UK, which will reduce the GOSL's external debt from nearly USD 1.7 billion to less than USD 200 million. He added that the GOSL was working to implement strategies to strengthen debt management to be able to carry out sustainable borrowing targeted at increasing incomes as well as reducing poverty. HULL