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27.06.2004 Business & Finance

Norway cancels most of Ghana's debts

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The Government has decided to cancel NOK 69 million of Ghana's debts to Norway. This leaves the remaining debts at NOK 8 million.

The agreement on debt cancellation is based on two multilateral framework agreements of 2001 and 2002.

In connection with the latest framework agreement, it was decided to cancel Ghana's debts through the international debt cancellation initiative (HIPC Initiative).

The remainder of Ghana's debts to Norway will be cancelled when Ghana completes the HIPC program.

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