Patriot announces forgiveness of 98% of Guinea's debt.
"An agreement has been reached and should be approved by the National Congress before the end of the year," said Foreign Minister Antonio Patriota in a press conference after meeting with Guinea's Foreign Minister Louncény Fall. "The debt forgiveness will ease the country's finances, allowing it to invest in major infrastructure projects such as dams and roads," commented Fall.
Ana Cristina Campos
Reporter from Agência Brasil
Brasilia – Foreign Minister Antonio Patriota said today (31) that the Republic of Guinea will benefit from the forgiveness of the debt the country has with Brazil. According to him, this will facilitate the granting of credit and intensify trade and investment. The forgiveness involves 98% of the debt, leaving US$ 200 to be paid.
"An agreement has been reached and should be approved by the National Congress before the end of the year," said Patriota, in a press conference after meeting with the Guinean Minister of Foreign Affairs, Louncény Fall. "The debt forgiveness will ease the country's finances, which will be able to invest in major infrastructure projects such as dams and roads," said Fall.
During the celebration of the 50th anniversary of the African Union in May, President Dilma Rousseff announced the forgiveness or renegotiation of the debt of 12 African countries to Brazil. The total debt forgiven or renegotiated amounts to almost US$900 million and will benefit the Republic of Congo, Ivory Coast, Tanzania, Gabon, Senegal, Republic of Guinea, Mauritania, Zambia, São Tomé and Príncipe, Democratic Republic of Congo, Sudan, and Guinea-Bissau.
Patriota highlighted that, with the creation of a new directorate for Africa at the National Bank for Economic and Social Development (BNDES) and the establishment of the bank's office in Johannesburg, South Africa, trade, investment, and economic cooperation should be deepened with African countries.
Edited by: Beto Coura