THE World Bank and the International Monetary Fund are to back a debt relief package for the west African state of Cameroon worth a total of $2bn. The agreement makes Cameroon immediately eligible for an annual $100m in debt relief over the next three years, freeing up money that can be allocated to health care, HIV/Aids prevention and primary education. Total relief from all of Cameroon’s creditors would come to $2bn over the life of the debt. The assistance is part of a joint World Bank-IMF effort known as the heavily indebted poor countries (HIPC) initiative, under which countries that implement IMF-approved economic reforms and draft strategies to combat poverty can ease their debt burden. – AFP