Jordan's Foreign Debt Drops 4.4 Percent in First Half of 2000
Jordan's foreign debt fell 4.4 percent to 6.9 billion dollars in the first half of this year from 7.2 billion at the end of 1999, the finance ministry said Friday.
Despite the drop, due primarily to a restructuring and rescheduling of the country's debt to France, the debt still stands at more than 95 percent of Jordan's gross domestic product.
The French action, agreed during a visit to France by King Abdullah II in November, entailed forgiving 14 million dollars, capitalizing another 56 million dollars and rescheduling more than 200 million dollars over 18 to 20 years.
France is Jordan's second-largest creditor, with debt now standing at 670 million dollars.
Jordan owes Japan 1.9 billion dollars.
The other principal creditors are Britain, Germany, the United States and Saudi Arabia, as well as Arab, Islamic, European and international financial institutions -- AMMAN (AFP)
© 2000 Al Bawaba (www.albawaba.com)