IDB approves debt relief for 5 nations

The latest decision by the Inter-American Development Bank would entitle five poor Latin American countries – Bolivia, Guyana, Haiti, Honduras and Nicaragua – to debt relief. Washington had been pushing for the debt write-off despite opposition from several nations in the region, which expressed concerns that the move would undermine IDB’s future lending capacity. ”This is great news for the more than 30 million people in these five countries,” IDB President Luis Alberto Moreno said. The U.S. welcomed the news. Treasury Department’s assistant secretary for international affairs, Clay Lowery, stated: ”The United States has been a leading voice for such an initiative, and today’s agreement on a way forward is a critical step in that effort.”

Source: IDB OK’s massive debt relief package for five nations (The Miami Herald)

About the author

Join the Discussion