Congo to Get Billions of Dollars In Debt Relief

July 2, 2010  |  

(CNN) — The Democratic Republic of Congo is in line to get billions of dollars in debt relief, World Bank officials said, cutting the amount the nation owes by more than 80 percent. International Monetary Fund and World Bank boards released a statement Thursday supporting $12.3 billion in debt relief for the central African nation. Congo received $11.1 billion in relief under the Heavily Indebted Poor Countries Initiative and $1.2 billion under the Multilateral Debt Relief Initiative, the organizations said in a statement.

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