Addis Ababa, June 22 (ENA) -- The Government of Italy announces a debt cancellation amounting to 375 million US dollars to Ethiopia. In a press release sent to ENA on Friday, the Italian embassy here said the reported amount of debt cancellation to Ethiopia was part of the Italian government's decision to relieve highly indebted poor countries of about 4.1 billion US dollars. The release said the Italian government made the debt relief so that the beneficiary countries would use what could have been expended in debt servicing to social security, capacity building and poverty reduction efforts. Italy has been pressing developed countries to relieve poor countries of their debt, according to the release.
Statistics
Ethiopia (15,000,000) - Israel (40,000) - Egypt (?) - Total (20,000,000)
