Japan cancels $60m Moz debt
2006-11-02 11:57
Maputo - The Japanese government has cancelled $60m in commercial debt owed to it by Mozambique, say officials.
The decision followed a meeting between Mozambican foreign minister Alcinda Abreu and her Japanese counterpart, Taro Aso, in Tokyo on Tuesday.
A statement from the Japanese embassy in Maputo said the cancellation was in line with decisions by creditor countries to wipe out commercial debt of nations within the Heavily Indebted Poor Countries debt-relief scheme.
Mozambique's finance minister Manuel Chang praised Tokyo for the assistance.
He said: "This will help our government strengthen its efforts in the struggle against poverty."
Chang also said that co-operation between Japan and Mozambique had experienced "tremendous growth in the last few years".
About 75% of Mozambique's 19 million people lived below the poverty line.
- AP