IMF approves $4.8bn debt relief

                 Niger is one of the nations that stands to benefit from debt relief

The International Monetary Fund has approved a $4.8bn (£2.8bn) plan to cancel the debts of 20 of the world's poorest countries.   It is part of the multilateral debt relief initiative agreed by leaders of the G8 industrialised states last July.   With the World Bank and IMF they set a target of writing off $55bn of debts from the world's poorest nations.   Around 70% of the debt is owed to the World Bank, while the rest is owed to the IMF and African Development Bank.   The World Bank is expected to announce a $38bn debt relief package next week.   Reduce corruption   Among the countries benefiting are Benin, Bolivia, Burkina Faso, Cambodia, Ethiopia, Ghana, Guyana, Mali, Nicaragua, Niger, Rwanda and Tanzania.   Most of them have qualified for the IMF debt relief by undertaking economic reforms and taking steps to reduce corruption.   The aim of the debt relief initiative is to free poor nations from debt repayments and enable them to spend more money on improving living conditions
 and reducing poverty.   It is seen as a crucial step towards meeting the United Nations' millennium development goals of halving the number of people living in extreme poverty by 2015.

           E-mail this to a friend    Printable version


  LINKS TO MORE BUSINESS STORIES


          SelectProbe into Japan share sale errorGlobal corruption 'on the rise'LSE rejects 'derisory' takeoverRush for gold as price hits $530Russian-German gas link launchedFrench output has surprise tumbleZimbabwean inflation passes 500%  [input]




  LATEST NEWS

  Government defends aid boost
  African head defends agreement
  G8 leaders agree $50bn aid boost
  $3bn pledged to Palestinians
  Summit police made 350 arrests

  FEATURES & ANALYSIS
  Was the G8 a success?
World leaders have a deal, but does it deliver?

  Press struggles to focus on G8
  London bombs make G8 impact
  G8 climate deal plays on words
  The G8 deal: What they said
  Marchers provide hope for Africa
  Inside the eco-camp
  G8 summit diary: 8 July

  BACKGROUND
  Profile: What is the G8?
  Guide: Africa's aid, trade & debt
  Day-by-day guide to events

  G8 COMMUNIQUES
  G8 communiques in full (PDF)

  HAVE YOUR SAY
  G8 summit: Your views
  UK interactive panel

  VIDEO AND AUDIO
Reports and analysis

  MORE ON THE ISSUES
  In depth: London attacks
  In depth: Africa 2005
  In depth: Planet Under Pressure




  SEE ALSO:
  Debt deal hailed but details beckon
26 Sep 05 |  Business
  World Bank and IMF back debt deal
26 Sep 05 |  Business
  Lenders edge closer to debt relief deal
22 Sep 05 |  Business
  World Bank hopes on debt relief
22 Sep 05 |  Business
  G8 debt deal under threat at IMF
15 Jul 05 |  Business
  Africans on Africa: Debt
07 Jul 05 |  Africa


  RELATED INTERNET LINKS:
  World Bank
  IMF
  The BBC is not responsible for the content of external internet sites

    TOP BUSINESS STORIES NOW

    Probe into Japan share sale error

  Global corruption 'on the rise'

  LSE rejects 'derisory' takeover

  Rush for gold as price hits $530

  getRssUrlStory('/rss/newsonline_world_edition/business/rss.xml')   | What is RSS?



   News Alerts
   E-mail services
   Mobiles/PDAs

   BBC Copyright Notice
   Back to top

   Help
   Privacy and Cookies Policy
   News sources
   About the BBC
   Contact us

    -1?'https:':'http:';  var _rsRP=escape(document.referrer);  var _rsND=_rsLP+'//secure-uk.imrworldwide.com/';     if (parseInt(navigator.appVersion)>=4)   {       var _rsRD=(new Date()).getTime();       var _rsSE=1;           var _rsSV="";       var _rsSM=1.0;       _rsCL='';   }   else   {       _rsCL='';   }   document.write(_rsCL);  //-->




---------------------------------
Yahoo! Shopping
 Find Great Deals on Holiday Gifts at Yahoo! Shopping

¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤
To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface
at: http://maelstrom.stjohns.edu/archives/gambia-l.html

To Search in the Gambia-L archives, go to: http://maelstrom.stjohns.edu/CGI/wa.exe?S1=gambia-l
To contact the List Management, please send an e-mail to:
[log in to unmask]
¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤