France ready to assist Morocco increase debt swapping rate

France said it was ready to assist Morocco increase to over 30 percent its debt swapping rate, set by the Paris Club at 20 percent.

France does not see any reason not to go farther in this direction with Morocco, as a country with medium means that faces indebtedness problems, French Economy, Finance and Industry Minister Dominique Strauss-Khan said.

The achievement of this objective depends, however, on the agreement of the other debtors and on Morocco's ability to attract such a swapping rate, he conceded.

The French minister was speaking at a press conference at the end of a meeting of NGOs committed in the international campaign to cancel developing countries' debts.