Source Pravda.Ru

Poorest countries get another opportunity

Financial leaders have finally agreed to wipe out Ј22.5bn worth of debts for the world's poorest countries.

The International Monetary Fund and World Bank have agreed to the deal drafted by G8 leaders which followed worldwide protests earlier in the year.

The decisions now go to the executive boards of the two institutions, where they are expected to be approved.

There has been concern that cancelling the repayments for the 18 poorest countries would compromise the World Bank's ability to continue lending to others.

However, the G8 has issued a written pledge to cover the full cost.

The pledge came despite fears for the health of the world economy in the face of rising energy costs.

Oxfam estimates poor countries spend Ј50m a day on debt repayments, diverting precious resources away from critical social and development needs, Sky news reports.

Comments
NATO to strike Russia through Suwalki Corridor
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Gaddafi's predictions come true as Americans gang rape the world
Gaddafi's predictions come true as Americans gang rape the world
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Gaddafi's predictions come true as Americans gang rape the world
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
South Korean President finds DPRK people eating sturgeon at fancy restaurants
Israel is always right, just because it is Israel. However, Russia is not addicted to BDSM
Mysterious genealogy of Russian President Putin
Gaddafi's predictions come true as Americans gang rape the world
On the collapse of civility in Western nations: living in the era of 'not nice'
Will Russia and USA clash in Syria?
On the collapse of civility in Western nations: living in the era of 'not nice'
On the collapse of civility in Western nations: living in the era of 'not nice'
How many aircraft and pilots Russia has lost in Syria so far
On the collapse of civility in Western nations: living in the era of 'not nice'
How many aircraft and pilots Russia has lost in Syria so far
NATO to strike Russia through Suwalki Corridor