German Chancellor Gerhard Schroeder called on the Paris Club of creditor
nations Wednesday to suspend debt repayments from countries ravaged by this
weekĄ¯s earthquake and tsunamis in order to help them in their massive recovery
efforts.
The moratorium would apply to Indonesia and Somalia, only two of the 12
disaster-affected countries with substantial debt owed to the Paris Club,
Schroeder said.
Germany will propose a repayment moratorium at a January meeting of the club,
which groups 19 lending nations, including the United States, Japan, Russia and
several European countries.
Paris Club Secretary-general Emmanuel Moulin was unable to give details, but
said that other countries affected by the disaster, such as India, Thailand and
the Maldives, owed little to the Paris Club.
On Thursday, Indonesia welcomed the German plan.
Somalia, an East African nation long riven by civil strife, has not paid any
of its debt to the group for several years.
The Paris Club comprises Austria, Australia, Belgium, Britain, Canada,
Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands,
Norway, Russia, Spain, Sweden, Switzerland and the United States. Its next
meeting is set for the week beginning Jan. 10
