The Paris Club of creditor nations on Wednesday announced an "immediate and unconditional" debt moratorium for Sri Lanka, Indonesia and Seychelles, hit by tsunami on Dec. 26.

"It is an offer by the Paris Club that has not yet been formally accepted by the countries concerned: Sri Lanka, Indonesia,and The Seychelles," the president of the 19-member informal organization, Jean-Pierre Joyuet told a press conference here.

"This measure takes effect immediately. It will allow countries affected to use all available resources for humanitarian needs and reconstruction," he said.

"In this exceptional situation, creditors wished that the suspension not be submitted to any conditions, neither an accord with the IMF (International Monetary Fund), nor to comparable treatment by private creditors," he added.

IMF and the World Bank will make an evaluation of needs to allow the Paris Club to refine its answer in conformity with the situation of the applicant countries, he added.

Indonesia's foreign debt totals around 132 billion dollars (100.7 billion euros), and Sri Lanka's foreign debt is roughly 7.7 billion dollars.

Some tsunami stricken countries such as India, Malaysia and Thailand have not make the relief request.

The principle of a debt repayment had been validated last week by the Group of Seven most industrialized nations (G7) and by most Paris Club members.

Founded in 1956, the Paris Club groups major industrialized countries, counting currently 19 members: Australia, Austria, Belgium, Britain, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Norway, Russia, Spain, Sweden, Switzerland and the United States.

Source: Xinhua