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|Posted Saturday, March 17, 2007
|Dirt-poor Haiti and others get IDB debt write-off
WASHINGTON, March 16 (UPI) -- Bolivia, Guyana, Haiti, Honduras and Nicaragua will not
have to pay back any outstanding loans to the Inter-American Development Bank.
The IDB said Friday it has approved complete debt relief to the countries totaling $3.4
billion in principal payments in addition to $1 billion in future interest payments.
"This decision represents a historic opportunity for a fresh start for Bolivia,
Guyana, Haiti, Honduras and Nicaragua," said IDB President Luis Alberto Moreno.
"The agreement backed by our membership will help these countries free up resources
to invest in quality education, health and other social services their citizens need to
By writing off the debt, IDB will be helping some of the poorest countries in Latin
America and the Caribbean to reach the United Nations Millennium Development Goals, which
aim to reduce global poverty by half from current levels by 2015.
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