![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, November 09, 2005 1:58:12 PM
Sao Tome, Nov. 9 (Lusa) - Sao Tome and Principe is on the "good path" to obtaining debt pardon, a spokesman for a joint International Monetary Fund and World Bank team said Wednesday.
Gonçalo Pascoal, who heads the joint mission, said his team had verified that the archipelago's authorities were "applying (the policies) we had programmed" to assure macro-economic and financial stability.
Sao Tome hopes to get the IMF and World Bank's blessing for a pardon of its estimated USD 300 million early next year.
The Washington-headquartered organizations included the islands in their Highly Indebted Poor Countries (HIPC) program, aimed to reduce poverty and provide debt relief, slightly more than three years ago.
The islands' compliance with the prescribed economic and financial restructuring program has suffered delays due to repeated changes of government, civil service strikes, the devaluation of the local currency, the dobra, and past holdups in the approval of an oil revenue management law.
RCN/SAS.
Recent ERHE News
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/06/2024 07:31:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:06:42 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM