Central African Republic gets debt relief

The International Monetary Fund (IMF) and the World Bank have agreed that the Central African Republic (C.A.R.) can complete the Heavily Indebted Poor Countries (HIPC) Initiative. The C.A.R. becomes the 25th country to reach the completion point under the Initiative. This means it will receive $207 million in debt relief. It also now becomes eligible for the Multilateral Debt Relief Initiative and so gets a further $182 million debt cancellation.

Read the IMF press release here.