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.
COPYRIGHT 2005 Catholic New Times, Inc.
COPYRIGHT 2005 Gale Group
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