He brought in new members and raised $3,000 toward debt repayment within six months.

Coming out of the recession we are also going to have higher debt repayments.

The nation faces debt repayments this year of more than $900 million.

City analysts had expected a further £50m worth of debt repayment during the month.

If that helps the government keep up with their debt repayments, that's all well and good.

"We need to have this curve where debt repayments will be quite small in the first years," he said.

He also said the terms on which debt repayment was extended would be made more generous in other ways.

Because of financial instability, Congress suspended foreign debt repayment for two years.

The offering would seek to raise $200 million for debt repayment.

The $9m or so net proceeds will be used for debt repayment and working capital.