Debt Cancellation

U.S. Proposes Major Debt Relief for Ebola-Hit Countries

The United States proposed Tuesday that the international community write off 100 million dollars in debt owed by West African countries hit hardest by the current Ebola outbreak. The money would be re-invested in health and other public programming.

Africa in Debt to Brazil: Forgiveness Isn’t Always Free

The Brazilian government projects the cancellation of nearly 900 million dollars in debt owed by a dozen African countries as a gesture of solidarity. But others simply see an aim to expand the economic and political influence of South America’s powerhouse.

Debt Relief Package for Myanmar Unusually Generous

Nearly 20 of the world’s largest creditor countries have announced that they would be cutting nearly half of Myanmar’s total foreign debt, worth some six billion dollars.

Children in Otjivero, Namibia. Credit: Servaas van den Bosch/IPS

Private Sector Debt Gnawing at Developing Countries

Twelve years after a global campaign successfully advocated the cancellation of some of the world’s poorest countries’ public debt, developing economies are again facing unsustainable debt burdens. Only this time, it is the private sector’s debt in developing economies that is inflating dangerously.