The African Development Bank (ADB) Group said on Monday Burundi had met the conditions needed to qualify for US $226.01 million ($149.35 million in Net Present Value terms) in debt relief.
"Burundi qualified for [the enhanced Heavily Indebted Poor Countries] HIPC debt relief after having demonstrated good progress in stabilising its economy and continuously implementing sound policies for macroeconomic and financial stability, growth and poverty reduction."
The ADB and ADF boards said although Burundi still faced a fragile political and socioeconomic situation, the country had made significant progress in stabilising the economy, implementing financial and structural reforms and initiating the restoration of social services.
In August Burundi became the 28th country to qualify for the World Bank and International Monetary Fund's enhanced HIPC initiative.
http://www.alertnet.org/thenews/newsdesk/IRIN/0be264f347fd35f3c45d0c0b3260c54b.htm
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