Identifier
Created
Classification
Origin
07YAOUNDE62
2007-01-17 16:20:00
UNCLASSIFIED
Embassy Yaounde
Cable title:
CAMEROON: SIGNATURE OF BILATERAL DEBT FORGIVENESS
how-toVZCZCXYZ0039 PP RUEHWEB DE RUEHYD #0062 0171620 ZNR UUUUU ZZH P 171620Z JAN 07 FM AMEMBASSY YAOUNDE TO RUEHC/SECSTATE WASHDC PRIORITY 7161 INFO RUEHRL/AMEMBASSY BERLIN PRIORITY 0031 RUEHLO/AMEMBASSY LONDON PRIORITY 1472 RUEHFR/AMEMBASSY PARIS PRIORITY 1716 RHMFISS/HQ USEUCOM VAIHINGEN GE PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
UNCLAS YAOUNDE 000062
SIPDIS
SIPDIS
STATE FOR AF/C AND AF/EPS
PARIS AND LONDON FOR AFRICA ACTION OFFICERS
EUCOM FOR J5-A AFRICA DIVISION AND POLAD YATES
TREASURY FOR BOYE
E.O. 12958: N/A
TAGS: EAID PREL PGOV ETRD ECON CM
SUBJECT: CAMEROON: SIGNATURE OF BILATERAL DEBT FORGIVENESS
AGREEMENT
REF: 06 STATE 199550
UNCLAS YAOUNDE 000062
SIPDIS
SIPDIS
STATE FOR AF/C AND AF/EPS
PARIS AND LONDON FOR AFRICA ACTION OFFICERS
EUCOM FOR J5-A AFRICA DIVISION AND POLAD YATES
TREASURY FOR BOYE
E.O. 12958: N/A
TAGS: EAID PREL PGOV ETRD ECON CM
SUBJECT: CAMEROON: SIGNATURE OF BILATERAL DEBT FORGIVENESS
AGREEMENT
REF: 06 STATE 199550
1. (U) On January 17, the Ambassador and Minister of
Economy and Finance Polycarpe Abah Abah signed an agreement
forgiving Cameroon's official bilateral debt to the United
States. The debt forgiveness stems from Cameroon's
attainment of the Heavily Indebted Poor Countries (HIPC)
Initiative Completion Point in April 2006. The agreement
forgave USD 30,203.800. Abah Abah's remarks, which were
televised, expressed effuse thanks to the USG for our suport
of Cameroon on the road to the completion point. The
Ambassador, for his part, praised the government of Cameroon
(GRC) for its hard work in achieving the HIPC Completion
Point, and expressed the hope that 2007 would bring
additional reforms improving the investment climate and thus
unleashing the full force of the private sector to create
jobs and wealth.
2. (U) According to Abah Abah, the rules set by the Paris
Club required all partner countries to finalize debt
forgiveness arrangements with Cameroon by the end of 2006.
Abah Abah indicated, however, that he was seeking an
extension from the Paris Club giving the GRC until June 2007
to finalize those agreements. He mentioned that while the
principal papers had been signed, he was still finalizing
details with four donor nations, including France and Germany.
MARQUARDT
SIPDIS
SIPDIS
STATE FOR AF/C AND AF/EPS
PARIS AND LONDON FOR AFRICA ACTION OFFICERS
EUCOM FOR J5-A AFRICA DIVISION AND POLAD YATES
TREASURY FOR BOYE
E.O. 12958: N/A
TAGS: EAID PREL PGOV ETRD ECON CM
SUBJECT: CAMEROON: SIGNATURE OF BILATERAL DEBT FORGIVENESS
AGREEMENT
REF: 06 STATE 199550
1. (U) On January 17, the Ambassador and Minister of
Economy and Finance Polycarpe Abah Abah signed an agreement
forgiving Cameroon's official bilateral debt to the United
States. The debt forgiveness stems from Cameroon's
attainment of the Heavily Indebted Poor Countries (HIPC)
Initiative Completion Point in April 2006. The agreement
forgave USD 30,203.800. Abah Abah's remarks, which were
televised, expressed effuse thanks to the USG for our suport
of Cameroon on the road to the completion point. The
Ambassador, for his part, praised the government of Cameroon
(GRC) for its hard work in achieving the HIPC Completion
Point, and expressed the hope that 2007 would bring
additional reforms improving the investment climate and thus
unleashing the full force of the private sector to create
jobs and wealth.
2. (U) According to Abah Abah, the rules set by the Paris
Club required all partner countries to finalize debt
forgiveness arrangements with Cameroon by the end of 2006.
Abah Abah indicated, however, that he was seeking an
extension from the Paris Club giving the GRC until June 2007
to finalize those agreements. He mentioned that while the
principal papers had been signed, he was still finalizing
details with four donor nations, including France and Germany.
MARQUARDT