World Bank Suspends Loans to Ivory Coast
June 18, 2004
Disrupting planned AIDS and disarmament programs, the World Bank suspended over $150 million in loans to war-torn Ivory Coast because the nation has fallen two months behind in debt repayments to the bank, said bank spokesperson Abdoul-Bakary Sanogo. Funding will not be forthcoming until arrears are paid, he said: "As soon as the money is repaid, we'll resume business as normal." Ivory Coast's arrears stand at $20.5 million, with total foreign debt amounting $9.4 billion, according to 2002 statistics. Since September 2002, when a failed coup d'etat triggered civil war, the country has been divided between the rebel-held north and the government-controlled south.Adapted from:
06.17.04; Pauline Bax
This article was provided by CDC National Prevention Information Network. It is a part of the publication CDC HIV/Hepatitis/STD/TB Prevention News Update.