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3/18/2007

Five Poor Countries Have Debt Forgiven

Filed under: global islands,nicaragua — admin @ 4:44 am

The Inter-American Development Bank (IDB) announced Friday that it would forgive a debt of $4.4 billion owed by the five poorest countries in Latin America and the Caribbean: Bolivia, Honduras, Nicaragua, Haiti and Guyana.

Bank president Luis Alberto Moreno said it would also provide funding to Ecuador, El Salvador, Guatemala, Paraguay and Suriname, in order to let them devote more money to education, health care and other services.

“This is a historic opportunity that will give these countries a fresh start,” Moreno said.

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