Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Algeria > News item |
Paris Club approves Algeria's plan to prepay up to $8 billion in debt
By Reshmi Basu
New York, May 11 -The government of Algeria's plans to pay off the entire $8 billion of debt it owes to the Paris Club were accepted by the creditors.
Under the agreement, the African nation will prepay its debt at par between May 31 and Nov. 30.
The move "reflects the strong financial recovery of Algeria in recent years," said the Paris Club in a news statement.
Formed in 1956, the Paris Club is an informal group of creditor governments from major industrialized countries.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.