Kenya-IMF deal imminent; Germany forgives Zambian debt

[Robert Weissman <rob@essential.org>]

>From the BBC:
               Friday, August 20, 1999 Published at 16:17 GMT 17:17 UK

               Kenya expects IMF to resume loans

               The new Kenyan finance minister, Chris Okemo, says he's
confident he'll be able
               to persuade the International Monetary Fund to resume
lending to Kenya when the
               two sides meet next month.

               The IMF suspended loans two years ago, complaining of
corruption and poor
               economic management.

               But in an interview with the BBC World Business Report, Mr
Okemo said great
               progress was being made in tackling both issues.

               He said he was setting up a unit to monitor all government
ministries so that
               they did not spend more than they have.

               From the newsroom of the BBC World Service

-------

               Friday, August 20, 1999 Published at 16:58 GMT 17:58 UK

               Germany waives more Zambian debts

               The German finance ministry has announced it is waiving another
               one-hundred-and-fifty-five million dollars of Zambia's debt
with Germany.

               The waiver forms part of the latest debt rescheduling
agreement between the two
               countries.

               A foreign ministry statement in Berlin described the move as
a further
               contribution towards the economic development of Zambia.

               The move comes within the framework of an international
agreement which
               provides for two-thirds of a nation's debt to be waived,
with the remainder to be
               paid off over a period of twenty-three years.

               From the newsroom of the BBC World Service