Third world debt cancellation due

Catholic New Times, March 8, 2005

OTTAWA -- The Canadian Press reports that Canada is cancelling debts totalling $52 million owed by the impoverished countries Zambia, Honduras and Rwanda.

Zambia owed Canada $39.2 million, Honduras $9.5 million and Rwanda $3.2 million, according to CP. Their accumulating debt has affected funding of much-needed social and economic programs in their countries, said Finance Minister Ralph Goodale.

Last year, Canada forgave debts owed by Ghana, Ethiopia and Madagascar.