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Switzerland to help Liberia debt relief

Switzerland is willing to contribute SFr11 million ($9.9 million) towards a debt relief package for Liberia, the government announced on Wednesday.

This content was published on February 20, 2008 - 17:54

The International Monetary Fund (IMF) decided last September on measures to help Liberia clear its arrears and to provide debt relief. The country faces an estimated debt of $4.8 billion (SFr5.3 billion).

The total relief Liberia is to receive from the IMF and World Bank amounts to SFr970 million.

A Swiss finance ministry spokesman said Liberia cannot receive financial support from the international community until its arrears have been settled.

Switzerland's debt relief policies focus on help for heavily indebted poor countries.

The Swiss contribution still needs parliamentary approval.

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