Ethiopia, OPEC sign 6.5m dollar debt cancelleation agreement

Dec 21, 2005 (ADDIS ABABA) — An agreement providing for the cancellation of a 6.5m US dollar debt Ethiopia owes to the Organization of Petroleum Exporting Countries (OPEC) was signed.

In a press statement to the official ENA, the Ministry of Foreign Affairs quoted the Ethiopian embassy in Vienna as saying Ethiopian Ambassador Halima Mohamed, OPEC Board Chairman Jemal Nasir, signed the agreement.

Speaking on the occasion, Ambassador Halima thanked OPEC for the cancellation of the debt, as it would help alleviate poverty in Ethiopia.

She said the money obtained from the cancellation of the debt would be used for poverty reduction programme in the country.

(ENA/ST)