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It meant that Uganda would, over the following 10 years, be able to save about $1.2bn per year in debt service repayments, money that could be invested in health, education and infrastructure.
The CML said the amount borrowers were paying as a percentage of their household income to service repayments fell to a record low for both first-time buyers and home movers at 17.6%.
Some 25 SILICs are in sub-Saharan Africa, three in Latin America and the Caribbean, three in Asia and one in the Near East.31 Debt service repayments for sub-Saharan Africa were almost 20 percent of export earnings in 1995, up from 17.3percent in 1994.
Similar(57)
Some programs allowed participants to repay half [ 74] or all [ 71, 75] of the principal without interest in lieu of service repayment.
The total amount paid by the individual ends up being well over the asking price for the house, and if an individual's circumstances change and he has difficulty servicing repayments, the schedule is revised.
Another is to allow the IMF, in appropriate and narrowly defined circumstances, to endorse a standstill of debt service and repayment, analogous to the "stay" that most bankruptcy codes provide for.
Now, because we aren't having to spend taxpayers' money on servicing debt repayments, the government can spend it on what people want it spent on - health, education and making life easier for pensioners and hard-working families - without jeopardising our overall economic stability.
All service-option educational loan programmes offer a choice between service and repayment of the financial incentive.
Developing nations have long struggled with large sovereign debts that divert needed funds from social services to repayment.
The government also wants to open talks on another bailout so Athens can keep up with its massive debt servicing and repayment.
The burden of debt servicing and repayment severely limits their options both for meeting the urgent needs of their deprived populations and for making lasting improvements that lift people out of hunger.
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