Sweden Provides Debt Relief to Indonesia

The Government of Sweden decided on 5 October to provide debt relief to Indonesia. Resources freed by this decision are to be used for humanitarian and reconstruction needs following the tsunami.
         The decision is based on a multilateral agreement in the Paris Club and means that SEK 33.6 million (USD 4.3 million) will be scheduled for repayment between 1 December 2006 and 1 December 2009. 
         The debt relief is being provided by deferring payments due from Indonesia in 2005 on loans originally guaranteed by the Swedish Export Credit Agency, EKN.
         The Paris Club is a group of official creditors from 19 industrialized countries.

Leave a Reply

Your email address will not be published. Required fields are marked *