VZCZCXYZ0039
PP RUEHWEB

DE RUEHYD #0062 0171620
ZNR UUUUU ZZH
P 171620Z JAN 07
FM AMEMBASSY YAOUNDE
TO RUEHC/SECSTATE WASHDC PRIORITY 7161
INFO RUEHRL/AMEMBASSY BERLIN PRIORITY 0031
RUEHLO/AMEMBASSY LONDON PRIORITY 1472
RUEHFR/AMEMBASSY PARIS PRIORITY 1716
RHMFISS/HQ USEUCOM VAIHINGEN GE PRIORITY
RUEATRS/DEPT OF TREASURY WASHDC PRIORITY

UNCLAS YAOUNDE 000062 
 
SIPDIS 
 
SIPDIS 
 
STATE FOR AF/C AND AF/EPS 
PARIS AND LONDON FOR AFRICA ACTION OFFICERS 
EUCOM FOR J5-A AFRICA DIVISION AND POLAD YATES 
TREASURY FOR BOYE 
 
E.O. 12958: N/A 
TAGS: EAID PREL PGOV ETRD ECON CM
SUBJECT: CAMEROON: SIGNATURE OF BILATERAL DEBT FORGIVENESS 
AGREEMENT 
 
REF: 06 STATE 199550 
 
¶1.  (U)  On January 17, the Ambassador and Minister of 
Economy and Finance Polycarpe Abah Abah signed an agreement 
forgiving Cameroon's official bilateral debt to the United 
States.  The debt forgiveness stems from Cameroon's 
attainment of the Heavily Indebted Poor Countries (HIPC) 
Initiative Completion Point in April 2006.  The agreement 
forgave USD 30,203.800.  Abah Abah's remarks, which were 
televised, expressed effuse thanks to the USG for our suport 
of Cameroon on the road to the completion point.  The 
Ambassador, for his part, praised the government of Cameroon 
(GRC) for its hard work in achieving the HIPC Completion 
Point, and expressed the hope that 2007 would bring 
additional reforms improving the investment climate and thus 
unleashing the full force of the private sector to create 
jobs and wealth. 
 
¶2.  (U)  According to Abah Abah, the rules set by the Paris 
Club required all partner countries to finalize debt 
forgiveness arrangements with Cameroon by the end of 2006. 
Abah Abah indicated, however, that he was seeking an 
extension from the Paris Club giving the GRC until June 2007 
to finalize those agreements.  He mentioned that while the 
principal papers had been signed, he was still finalizing 
details with four donor nations, including France and Germany. 
MARQUARDT