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Monday, January 10, 2005

Paris Club set for debt moratorium over tsunami

PARIS (Reuters) - The Paris Club of government creditors is ready to agree to a debt moratorium for nations hit by the Asian tsunami at a meeting in Paris on Wednesday, French Finance Minister Herve Gaymard says.
"We (France) will propose a moratorium on the debt. The Paris Club countries accept this. We have consulted them," Gaymard told Europe 1 radio in an interview on Sunday.

Finance ministers of the Group of Seven industrialised countries said on Friday they had agreed to freeze the debt repayments of nations hit by the tsunami and would work with the Paris Club and other creditors on arranging how.

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